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New Governance Code

Thursday 3 May 2018

Financial Review

The ASX Governance Council is to update their governance code for the first time since 2014, in response to AMP’s conduct as highlighted by the Royal Commission.

Dominic Steven, ASX CEO, said it is possibly a good thing that this conduct is coming to light because it represents an opportunity to make things better.

According to the Australian Financial Review:

Under ASX listing rules, entities must benchmark corporate governance practices against the recommendations and where they do not meet them, explain why.

The new areas of the governance code will touch upon the importance of social licence, culture, whistleblowers, anti-bribery measures and cyber risks.