Governance news bites – 14 June

Governance is always a busy space, and the past few weeks are no exception. The media and other channels increasingly focus on governance issues, from succession planning, to director duties and liabilities; legislative to technology and AI.

We’re providing a new, regular round-up of governance news bites to help keep you up to date and informed. Read on! 

• The Australian Securities and Investment Commission taking a third successful “greenwashing” prosecution in Australia against a superannuation fund, Active Super.
• New Zealand Treasury analysis of New Zealand’s productivity paints a dim picture and some of have suggested based on the analysis that productivity may not increase in New Zealand beyond current poor levels in a generation. 
• The financial pressure is on for business currently. Company liquidations reaching a nine-year high is one indication of this.
• Governance is front and centre for the banking sector, with reviews lead by the Reserve Bank of New Zealand (one example here) and the Minister of Finance has written to chairs of Parliament’s Finance and Primary Production Select committees calling for an inquiry in to the state of competition in New Zealand banking.
• AI is being used in some interesting and surprising places that it would be worth directors paying attention to. It is more than just chatbots. Air New Zealand is taking photos of the food you eat (or don’t eat) on their planes for analysis by AI to spot patterns in consumption and better respond to customer preferences.