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ARTICLE · 25 OCTOBER 2013

ASX to revamp its Corporate Governance Principles and Recommendations

Holding Redlich
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The ASX has begun a consultation process to revamp and update its Corporate Governance Principles and Recommendations.

AustraliaFinance and Banking
Michael MacMahon (Formerly With Holding Redlich)
Michael MacMahon (Formerly With Holding Redlich)
Philip Vickery (Formerly With Holding Redlich)
Philip Vickery (Formerly With Holding Redlich)
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The Australian Securities Exchange (ASX) has commenced the consultation process to revamp and update its key Corporate Governance Principles and Recommendations (Principles and Recommendations).

The Principles and Recommendations were last comprehensively reviewed back in 2007. Since then the GFC has raised a number of key corporate governance issues, and several foreign regulators have revised their requirements. Unsurprisingly, risk management receives detailed attention from the ASX in the proposed new Principles and Recommendations. All up, the proposed changes are intended to raise the benchmark on corporate governance in the wake of the GFC, but to also provide additional flexibility on the method of corporate governance reporting.

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