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Sep 5, 2024 | 
lexology.com | Christine Wong |Daniel R. Hyde |Jacqueline Wootton |Leon Chung
On 8 September 2024, the new offence of ‘failing to prevent ‘Associates’ bribing foreign public officials’ comes into effect. This is a strict liability corporate offence (see our website for an overview). There is an adequate procedures defence available to companies, in relation to which the Commonwealth Attorney General is required to publish guidance. The final Guidance on adequate procedures to prevent the commission of foreign bribery was published last week.
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Jun 3, 2024 | 
lexology.com | Timothy Stutt |Jacqueline Wootton |Olga Klimczak |Natalie Gaspar |Melanie Debenham
Today, ESG is near-ubiquitous across the Australian corporate landscape. As a lens on business decision-making, only 2% of companies surveyed in 2024 say they are not taking environment and social values into account when deciding investments. Further, 63% of companies confirm they have undertaken a formal ESG review in the last two years. Such reviews can take the form of focused, in-depth examinations by formal review committees of thematic risks and opportunities.
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Jun 3, 2024 | 
lexology.com | Timothy Stutt |Jacqueline Wootton
With opportunities, come challenges for businesses seeking to explore how to unlock value from prioritising and investing in understanding ‘S’ factors. Simply articulating an ESG-aligned purpose or commitment to specific ‘S’ goals is insufficient if not backed up by what employees and other stakeholders experience in practice. In fact, it is more likely to attract negative publicity, including criticisms of ‘social washing’, and lead to an erosion in employee engagement.
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May 6, 2024 | 
lexology.com | Leon Chung |Jacqueline Wootton |Christine Wong |Natasha Reurts |Priscilla Bourne |Kayla Laird
In a landmark case, the Federal Court of Australia has directly considered the scope of the Australian Autonomous Sanctions Regulations (2011) (Cth) (Regulations), marking the first instance where an Australian court has interpreted the prohibitions on sanctioned supplies (regulations 4 and 12) and dealings with designated persons and entities (regulation 14).
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May 6, 2024 | 
lexology.com | Leon Chung |Jacqueline Wootton |Christine Wong |Natasha Reurts |Priscilla Bourne |Kayla Laird
Recently, the Federal Court of Australia handed down its judgment in Tigers Realm Coal Limited v Commonwealth of Australia [2024] FCA 340, considering the interpretation of the word ‘transport’ in regulation 4A of the Autonomous Sanctions Regulations 2011 (Cth) (the Regulations). This decision marks yet another recent decision by the Federal Court of Australia regarding Australia’s autonomous sanctions regime.
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May 6, 2024 | 
lexology.com | Leon Chung |Jacqueline Wootton |Christine Wong |Natasha Reurts |Priscilla Bourne |Kayla Laird
Autonomous Sanctions Amendment Bill 2024 On 24 February 2024, the Australian Parliament tabled the Autonomous Sanctions Amendment Bill 2024 (the Bill) to amend the Autonomous Sanctions Act 2011 (Cth) (the Act).[1] The purpose of the Bill was to clarify: “that individuals and / or entities can be validly sanctioned based on past conduct or status”;[2] the validity of sanctions imposed on the basis of past conduct or status, or with respect to past circumstances; and the validity of sanctions...
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Feb 12, 2024 | 
mondaq.com | Leon Chung |Jacqueline Wootton |Christine H. Wong |Natasha Reurts
Following the introduction of the Autonomous Sanctions
Amendment (Magnitsky-style and Other Thematic Sanctions)
Regulations 2021 (the Magnitsky-style
Regulations) on 21 December 2021, Australia has announced
the second tranche of financial and travel sanctions under the
Magnitsky-style Regulations on 23 January 2024.
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Feb 12, 2024 | 
lexology.com | Jacqueline Wootton |Merryn Quayle |Leon Chung |Mark Smyth |Bryony Adams |Anna Sutherland | +5 more
In this issue 01 Corporate crime and investigationsoutlook 2024: Trends in Australia and beyond02 Foreign bribery law reform: third time lucky?
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Nov 23, 2023 | 
lexology.com | Jacqueline Wootton |Hannah Cassidy |Antony Crockett
Click here to listen to the audio. Jacqueline Wootton, Hannah Cassidy and Antony Crockett take the wheel to explore trust in banking, as the sector faces a number of stress tests, including carving out credible positions on social and climate issues, creating new carbon offset markets which operate with integrity and transparency and other challenges explored in HSF’s latest edition of the annual Global Bank Review.
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Nov 6, 2023 | 
lexology.com | Leon Chung |Jacqueline Wootton |Christine Wong |Natasha Reurts |Priscilla Bourne |Kayla Laird
In an ongoing effort to respond to the Russian invasion of Ukraine, the Australian Government continues to broaden its sanction regime against Russia. Notably, the government has turned its focus on declaring a ban on the export of machinery and related parts to Russia and areas of Ukraine currently under Russian control as foreshadowed earlier in the year. The measures show Australia’s is remaining a part of a coordinated global response with its G7 allies.
