The ASX Advisory Group on Corporate Governance (AGCG) met for the first time on 13 February 2026 and subsequently released their first communique (see HERE) on 17 February 2026. The results of the first meeting were:

• Highlighting the importance of the ASX’s Corporate Governance Principles (Principles) and their contribution to a well-functioning capital market.
• Prioritising an update to the Principles as they have not been updated since 2019. The plan is to deliver a revised set of Principles to the ASX Board by end of 2026.
• Retaining the 8 broad Principles and the ‘if not, why not’ approach. The Principles will be simplified where possible. The goal is to provide guidance without additional compliance obligations.
• Aiming to operate the review in a transparent and open manner, involving stakeholders where appropriate. It is expected that the ASX undertakes public consultation on the draft revised Principles in Q3 2026.

The AGCG met again 30 March 2026 and released their second communique (see HERE) 1 April 2026. The results of the second meeting were:

• Recommending that each of the 8 broad Principles be accompanied with a “why” they are important. Additionally, the Principles should have updated accompanying explanatory material.
• Highlighting the importance of the ‘if not, why not’ approach. Allowing alternative arrangements to satisfying the general Principles, so long as they are transparent and investors are informed of the rationale.
• Recognising the importance of diversity. Diversity encompasses differences in thought, experience, and perspective, and strengthens Boards. The AGCG found that the inclusion of a numerical gender diversity target for ASX 300 boards has had positive outcomes and will be retained in the updated Principles. No other diversity characteristic numerical targets will be required.
• Recommending that the approach to governance by entities incorporated outside of Australia be maintained, so long as they are transparent and investors are informed of the rationale.
• Discussed the recent corporate governance events such as the findings of the Federal Court in the Star Entertainment Group case.

The AGCG will meet again on 8 May 2026. Guerdon Associates will continue to monitor and summarise these releases as they occur.

© Guerdon Associates 2026 Back to all articles