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ASX Update to Guidance Note 9 - Disclosure of Corporate Governance Practices

ASX has recently published an updated version of ASX Listing Rules Guidance Note 9 Disclosure of Corporate Governance Practices (Guidance Note 9).  The updates to Guidance Note 9 are due to be released on 1 January 2020, which is the same date that the fourth edition of the Corporate Governance Principles and Recommendations (Principles and Recommendations) comes into effect.

Guidance Note 9 provides new and updated guidance on:

  • disclosure of corporate governance policies, including the requirement (in conjunction with the Principles and Recommendations) for a listed entity to have and disclose (in full) a diversity policy, code of conduct, whistleblower policy, anti-bribery and corruption policy, and continuous disclosure policy; and

  • the ASX Corporate Governance Council’s recommendations on:

    • diversity;

    • the process to verify integrity of periodic corporate reports;

    • investor and analyst presentations;

    • environmental and social risks; and

    • policy on hedging equity incentive schemes.

The updated Guidance Note 9 can be accessed by the link: https://www.asx.com.au/documents/regulation/asx-gn-9-fourth-edition.pdf and the Principles and Recommendations can be accessed by the link: https://www.asx.com.au/documents/asx-compliance/cgc-principles-and-recommendations-fourth-edn.pdf  

Please get in touch with one of the Sierra Legal team if you need any assistance with:

  • compliance with the new Principles and Recommendations;

  • preparing any new, or reviewing any existing policies to ensure compliance with the new Principles and Recommendations; or

  • any other corporate governance matters during the up-coming reporting season, including the preparation of notice of meetings.