In her opening address at the General Counsel Summit on August 7, 2023, Australian Securities and Investments Commission (ASIC) Deputy Chair Sarah Court outlined for lawyers working in the companies it regulates, how it intended to approach enforcement over the coming year.
Ms Court highlighted greenwashing, where misleading environmental claims by companies can significantly impact investor decisions and market transparency. This further illustrates the growing role and responsibilities of company lawyers in sustainability and the risks of regulatory action against them from other agencies.
The deputy chair also used her address to speak about the role of the general counsel in working with the regulator to resolve issues and emphasised the importance of how general counsel conduct themselves in those interactions, in determining whether a significant matter can be effectively resolved with a regulator, or not.