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TheCorporateCounsel

TheCorporateCounsel.net

A basis for research and practical guidance focusing on federal securities laws, compliance & corporate governance.

DealLawyers

DealLawyers.com

An educational service that provides practical guidance on legal issues involving public and private mergers & acquisitions, joint ventures, private equity – and much more.

CompensationStandards

CompensationStandards.com

The “one stop” resource for information about responsible executive compensation practices & disclosure.

Section16.net

Section16.net

Widely recognized as the premier online research platform providing practical guidance on issues involving Section 16 of the Securities Exchange Act of 1934 and all of its related rules.

PracticalESG

PracticalESG.com

Keeping you in-the-know on environmental, social and governance developments

While the U.S. Supreme Court dealt a blow to human rights litigation in the United States in its recent Cisco decision, other countries are stepping up. The Australian government just announced new measures bolstering its modern slavery prevention laws. These include new criminal offenses for companies that fail to take action against slavery in their supply chains. The Government’s press release gives details:

“The Government will strengthen Australia’s modern slavery laws with a new criminal offence where companies with an annual consolidated revenue over $100 million fail to prevent modern slavery in their supply chains.

Importantly, there will be a defence available if a company can demonstrate that they took reasonable steps to prevent modern slavery. This will ensure companies which have adequate processes and steps in place are afforded appropriate protections.

Upcoming consultations will help inform the details of the proposed offence and enforcement options to further ensure the reforms are practical, effective and fit for purpose, including consideration of a deferred prosecution agreement scheme and remedies for victims.”

There is no concrete timeline for when these measures will become law. The press release notes that more details will be forthcoming in the form of upcoming consultations. In addition to adding criminal enforcement, the government also hopes to step up civil enforcement to address existing noncompliance with its Modern Slavery Act. Modern slavery prevention is becoming more popular globally. Countries are expecting companies to monitor slavery risks in their supply chains and take action. Laws like Australia’s make it increasingly difficult for corporate actors to look the other way.

Our members can learn more about supply chain management here.

If you’re not already a member, sign up now and take advantage of our no-risk “100-Day Promise” – during the first 100 days as an activated member, you may cancel for any reason and receive a full refund. But it will probably pay for itself before then. Members also save hours of research and reading time each week by using our filtered and curated library of ESG/sustainability resources covering over 100 sustainability subject areas – updated daily with practical and credible information.

Practical Guidance for Companies, Curated for Clarity.

 

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The Editor

Zachary Barlow is a licensed attorney. He earned his JD from the University of Mississippi and has a bachelor’s in Public Policy Leadership. He practiced law at a mid-size firm and handled a wide variety of cases. During this time he assisted in overseeing compliance of a public entity and litigated contract disputes, gaining experience both in and outside of the courtroom. Zachary currently assists the PracticalESG.com editorial team by providing research and creating content on a spectrum of ESG… View Profile