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Treasurer Josh Frydenberg announced reforms to proxy advice which includes forcing superannuation funds to disclose detailed voting records.

Today, Treasurer Josh Frydenberg announced new rules on proxy advisors through the Treasury Laws Amendment (Greater Transparency of Proxy Advice

John Karantzis was served a seldom-used Departure Prohibition Order by the Australian Taxation Office on December 18.

[co-author: Camille Youngblood] Key Points: Large asset managers like BlackRock and State Street have recently published updates to their proxy voting guidelines primarily focusing on diversity and inclusion and climate risk disclosures. BlackRock’s key changes include updating its voting behavior to address board quality and composition issues, emphasizing its commitment to net zero emissions and climate risk disclosures, alongside other changes related to human capital management, key stakeholder interests and executive compensation. State Street’s updates include new voting guidelines ...

the current percentage of racially/ethnically diverse directors; whether the board’s definition of diversity explicitly includes gender, race or ethnicity; whether the board has a “Rooney Rule” policy requiring diverse candidates to be included in the initial pool of candidates when selecting new directors; and board skills disclosure. Although Glass Lewis will not make voting recommendations solely on the basis of this assessment in 2021, the assessment may be a contributing factor in recommendations when other board-related concerns have been identified. Board Refreshment/Tenure. Alth...