With significant regulatory change coming into effect the spotlight is staying firmly on culture, ethics and regulatory compliance. An organisation’s social licence to operate remains a priority for Australian businesses.
Throughout Australia we are seeing a sharper focus on sustainable and socially acceptable business conduct, with unethical behaviour being publicly pursued and punished.
The Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry revealed sweeping shortcomings among many in the industry sparking political and regulatory action to restore trust in the finance sector. Regulators, particularly the Australian Securities and Investments Commission (ASIC), will be resourced to increase investigative activity, which we expect will result in an increase in prosecutions and civil penalty proceedings. The publicity surrounding these activities will in turn ensure that corporate behaviour, culture and compliance will remain in focus for Boards and senior management across all sectors.
Against that backdrop, the Australian Government has also announced new legislation to better expose corporate misconduct. This year we expect to see bi-partisan political support for proposed reforms to enhance protection and rights for whistleblowers and a comprehensive review of Australia’s white-collar crime laws.
In advising clients on their activities in transaction, dispute and compliance settings we are ever mindful of these changes in the commercial landscape, which of course will shape our approach and service offering.
The wonderful support we receive from our clients has seen us again recognised by many international directories as well as through industry awards, including our Dispute Resolution team being listed as a Band 1 Practice in the Asia Pacific Legal 500. This Review highlights a selection of our engagements to provide a sense of the firm’s strengths and the organisations we are privileged to represent.
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