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ARTICLE · 13 NOVEMBER 2025

October 2025 ESG Policy Update—Australia

K&L Gates
K&L Gates
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On 3 October 2025, the Australian Securities and Investments Commission (ASIC) initiated civil penalty proceedings against a responsible entity (RE) in the Supreme Court of New South Wales...

AustraliaCorporate/Commercial Law
Jim Bulling
Jim Bulling
Clive Cachia
Clive Cachia
Alanna Fitzpatrick
Alanna Fitzpatrick
Ayman Guirguis
Ayman Guirguis
Paul Hardman
Paul Hardman
Lisa Lautier
Lisa Lautier
Adam Levine
Adam Levine
Tom Young
Tom Young
Michael Hain
Michael Hain
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Australian Update

ASIC Commences Proceedings Against the Responsible Entity of an ESG Investment Fund for Misleading Conduct

On 3 October 2025, the Australian Securities and Investments Commission (ASIC) initiated civil penalty proceedings against a responsible entity (RE) in the Supreme Court of New South Wales, alleging significant governance failures and misleading conduct concerning its Environmental, Social and Governance (ESG) investment fund (Fund).

ASIC's allegations centre on the RE's failure to act with the requisite care and diligence as the responsible entity of the Fund. The Fund's Product Disclosure Statement (PDS) stated that investments would be made in companies that aim to be positive for society and for the environment and aim to avoid investments in harmful activities. However, ASIC contends that the RE failed to act with care and diligence by:

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