Welcome to the September 2019 issue of GuerdonNews^®

 In this newsletter we:

• Suggest an alternative to prescribing banker pay for healthier and competitive financial services

• Warn that the ASX has cottoned on to inadequate governance disclosures and practices with its most recent guidance note

• Consider the implications of Australian super funds requiring oil and gas company executive pay to vary with greenhouse gas emissions

• Suggest mortgage brokers will receive lower remuneration as a result of the government's draft legislation  

• Describe the federal government's roadmap to implement the Hayne Royal Commission's recommendations 

We conclude with executive and director remuneration disclosure updates available on the GuerdonData® on-line database. And if you have any other executive remuneration or governance query  type it into your search engine with "Guerdon Associates" and you will find we will likely have provided an answer already.

Draft APRA regulation need not prescribe remuneration

An alternative to achieve healthier, competitive and profitable financial services  

Guerdon Associates proposes an approach that would address shortcomings in APRA's executive pay prescriptions. More could be achieved through the transparent submission of evidence that executive pay meets prudent principles. If the evidence is insufficient, APRA applies its current powers to remove directors. This makes both APRA and regulated entities transparently accountable.

Read more

ASX guidance to make governance practices and statements more meaningful   

Clarification for ASX-listed companies 

ASX guidance note 9 covers information needed for company websites, meeting diversity objectives, and publishing investor presentations with the ASX.

Read more

Executive Pay and Climate Change  

Boards, take note 

Large super funds, as members of Climate Action 100+, are requiring Australian oil and gas companies to tie executive pay to curbing carbon emissions.

Read more

Changes afoot in mortgage broker remuneration

Clawback requirements introduced 

Substantial changes are tabled in a draft bill proposed by the government to come into force on 1 July 2020. These include changes to broker remuneration, with some being banned and the introduction of clawback. 

Read more

The Royal Commission Roadmap

The Treasurer releases an action plan 

The federal government aims to implement most of the recommendations of the Financial Services Royal Commission by the middle of 2020. Strengthened regulators APRA and ASIC will ensure enforcement. However, the extension of BEAR to all APRA-regulated entities will not be addressed till late 2020. 

Read more

Latest GuerdonData^® Updates

Updates to GuerdonData^®  this month include disclosures from the following 177 companies: 

Abacus Property Group, Accent Group Limited, Afterpay Touch Group Limited, AGL Energy Ltd, Altium Limited, AMA Group Ltd , Amaysim Australia Ltd , Ansell Limited, ARB Corporation Limited, Ardent Leisure Group Limited, Arena Reit, ASX Limited, Auckland International Airport Limited, Aurelia Metals Limited, Aurizon Holdings Limited, Ausdrill Limited, Austal Limited, Austbrokers Holdings Limited, Australian Pipeline Trust, Aventus Retail Fund, Aveo Group, Baby Bunting Group Ltd , Beach Petroleum Limited, Bega Cheese Limited, Bellamy's Australia Limited, Bingo Industries Limited, Blackmores Limited, Bluescope Steel Limited, Brambles Industries Limited, Bravura Solutions Limited, Breville Group Ltd, Burson Group Limited, BWX Limited, Cardno Limited, Carnarvon Petroleum Limited, Carsales.com Limited, Cedar Woods Properties Limited, Challenger Ltd, Charter Hall Group, Chorus Limited, Class Limited, Clean TeQ Holdings Limited, Cleanaway Waste Management Limited, Clinuvel Pharmaceuticals Limited, Cochlear Limited, Commonwealth Bank Of Australia, Cooper Energy Limited, Corporate Travel Management Limited, Cromwell Property Group, CSL Limited, Dexus Property Group, Domain Holdings Australia Limited, Domino's Pizza Enterprises Limited, Downer EDI Limited, Emeco Holdings Limited, EML Payments Limited, ERM Power Limited, Estia Health Limited, Evolution Mining Limited, Fletcher Building Limited, Flexigroup Limited, Flight Centre Limited, Fortescue Metals Group Ltd, Freedom Foods Group Limited, GDI Property Group, Goodman Group, Growthpoint Properties Australia, GWA Group Ltd, Hansen Technologies Limited, Healius Limited, Hotel Property Investments, Hub24 Limited, IDP Education Limited , Imdex Limited, IMF Bentham (Australia) Ltd, Independence Group NL, Infigen Energy, Infomedia Limited, Ingenia Communities Group, Inghams Group , Insurance Australia Group Limited, Integrated Research Limited, IOOF Holdings Limited, IPH Limited, IVE Group Limited, Japara Healthcare Limited, JB Hi-Fi Limited, Lend Lease Corporation Limited, Link Administration Holdings Limited, Lovisa Holdings Limited, Lynas Corporation Limited, MacMahon Holdings Limited, Magellan Financial Group Limited, Mayne Pharma Group Limited, McMillan Shakespeare Limited, Medibank Private Limited, Megaport Limited, Mesoblast Limited, Metals X Limited, Mineral Resources Limited, Mirvac Group, Monadelphous Group Limited, Monash IVF Group Limited, Money3 Corporation Limited, Mount Gibson Iron Limited, MyState Limited, Nanosonics Limited, National Storage Reit, Navigator Global Investments Limited, Nearmap Ltd, Netwealth Group, Newcrest Mining Limited, NextDC Limited, NIB Holdings Limited, Nick Scali Limited, Nine Entertainment Co. Holdings Limited, Northern Star Resources Limited, NRW Holdings Limited, Origin Energy Limited, Orocobre Limited, Pact Group Holdings Ltd, Paladin Resources Limited, Perpetual Limited, Perseus Mining Limited, Pilbara Minerals Ltd , Pinnacle Investment Management Group Limited, Platinum Asset Management Limited, Polynovo Limited, Praemium Limited, Pro Medicus Limited, Qantas Airways Limited, Qube Holdings Limited, Ramelius Resources Limited, Rea Group Ltd, Regis Healthcare Limited, Regis Resources Limited, Reliance Worldwide Corporation Limited, Sandfire Resources NL, Saracen Mineral Holdings Limited, Sealink Travel Group , Seek Limited, Senex Energy Limited, Service Stream Limited, Seven Group Holdings Limited, Seven West Media Limited, SG Fleet Group Limited, Silver Lake Resources Limited, Sims Metal Management Limited, Skycity Entertainment Group Limited, Southern Cross Media Group Limited, Spark New Zealand Limited, St Barbara Limited, Starpharma Holdings Limited, Steadfast Group Limited, Stockland, Suncorp Group Limited, Super Cheap Auto Group Limited, Tabcorp Holdings Limited, Tassal Group Limited, Telstra Corporation Limited, Telstra Corporation Limited, The A2 Milk Company, The Star Entertainment Group Limited, Transurban Group, Treasury Wine Estates Limited, Vicinity Centres, Villa World Limited, Village Roadshow Limited, Virtus Health Limited, Vocus Communications Limited, Wagners Holding Company Limited, Webjet Limited, Western Areas NL, Westgold Resources , Whitehaven Coal Limited, Woolworths Limited, WorleyParsons Limited 

Executive and director remuneration data from all ASX 300 companies on GuerdonData® is available to any subscriber. Visit our website for more information on GuerdonData®.

Assess how easily you can find out director and executive pay information by viewing our 6 minute demo HERE.

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The information, analysis and opinion in this e-mail and attachments are intended to be for informational purposes only. Analyses are based on information taken from public documents or private surveys, and we do not represent to its accuracy. Guerdon Associates assumes no liability for the use or interpretation of information contained herein. This publication is provided 'as is' without warranty of any kind, either expressed or implied, including, but not limited to, the implied warranties of marketability, fitness for a particular purpose, or non-infringement of third party rights.