Over the past few months, we have seen corporate regulators provide swift, coordinated and targeted relief to boards and investors to support business sentiment. However, as Australia enters its first recession in almost three decades, the question in my mind for the next 12 months is – what is our appetite for structural change?
Between ASIC, ASX and the Treasury, the Australian corporate regulatory framework is robust - but there is an opportunity to streamline rules that have exhausted their relevance.
Our corporate governance rules aspire to generate meaningful shareholder engagement – now is the time to make hybrid and virtual shareholder meetings a permanent feature and for ASIC and ASX to demand greater digital maturity from public companies. As we usher in a transformed business environment, the time to tackle these issues may finally be ripe.
Vidushee is a Senior Associate in the firm's corporate, M&A and capital markets group.
Vidushee acts for listed public companies and private entrepreneurs across a wide range of industries including retail, property and technology.