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From critical infrastructure and privacy reform to productivity and emerging governance challenges, here’s how the AICD has been actively advocating on issues that matter most to our members and providing new resources on critical policy matters.
Key policy and governance developments for Australian boards
Proposed new government powers during critical infrastructure incidents
Last month, the AICD made a submission to the Department of Home Affairs on proposed changes to Ministerial Directions powers under the Security of Critical Infrastructure Act 2018 (SOCI Act).
An independent review found that while the SOCI Act has strengthened Australia’s security across critical sectors including communications, financial services, and the defence industry, it also highlighted growing risks, particularly around cyber security, as critical infrastructure becomes more complex and interconnected.
In response, the Government proposed broader powers for the Minister for Home Affairs to intervene in the governance arrangements, disclosure practices and key vendor arrangements. While we support the Government’s intent, we are concerned the proposed powers are too broad and could affect board decision-making, create uncertainty around directors’ duties and increase legal risk for directors.
On behalf of our members and the wider governance community, we called for clarity on the powers, clearer processes and stronger legal protections for directors before the changes proceed.
Productivity reforms to boost dynamism and growth
We made a submission to the Productivity Commission's inquiry into barriers to business dynamism – the continuous process of new companies entering the market, existing firms expanding, and unproductive businesses failing. Our view is that complex and overlapping regulation is making it harder for Australian organisations to start, grow, innovate and attract investment.
The submission calls for a broad regulatory reform agenda, including a review of the Corporations Act 2001, simplification of director liability settings and reforms to Australia's insolvency framework. We argued that excessive complexity is drawing board attention away from strategy, innovation and growth.
For boards, the inquiry is significant because it goes to the heart of how regulation affects business decision-making, risk-taking and productivity. Our submission reinforces the need for regulatory settings that support growth and innovation while maintaining strong governance and accountability.
ASIC tightens access to directors’ residential address data
A personal safety and privacy issue for many directors has centred on the public availability of their home addresses through the Australian Securities and Investments Commission (ASIC) registry searches. Following several years of advocacy by the AICD and other bodies ASIC redacted residential addresses from the registry in February 2026.
On July 1 2026, the Government passed legislation that provides ASIC with a clearer administrative framework for the registry, including broader powers to determine what information appears on the register and who can access it. We made a submission to Treasury[SM1] and subsequent Parliamentary inquiry (including a supplementary submission with legal advice from Professor Pamela Hanrahan FAICD) arguing that the legislation does not embed a ‘privacy by design’ approach.
The legislation gives ASIC discretion over when and how directors’ personal information can be disclosed, rather than making privacy the default. We believe directors’ personal details, particularly home addresses, should not be publicly accessible. Yet we are concerned that the new powers would still allow ASIC to disclose this information with limited safeguards.
While the reforms may in time provide clearer protections and reduced exposure to privacy and security risks, and support the use of alternative service addresses, directors will also face stricter obligations to keep registry information up to date, with penalties and potential disqualification for failing to meet reporting requirements.
The AICD will continue to engage with ASIC as it develops its policy approach to administering the regime with a focus on the continuing protection of director personal information.
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New guidance on the issues shaping board decisions
AI governance for boards
We recently published an updated AI governance suite of resources, A Director’s Guide to AI Governance in partnership with the Human Technology Institute at the University of Technology Sydney . The collection of resources has quickly become one of our most popular releases to date, with over 8,000 downloads in the first month since launch.
The comprehensive updates reflect the rapid pace of technological change in AI, evolving governance practices, and the emerging risks and opportunities they present. It also reinforces our commitment to cutting through the noise and equipping members – and the broader governance community – with the information they need to make more informed decisions.
More practical guidance and submissions on the way
Over the next month, we plan to release a new Stakeholder Guide based on interviews with more than 20 experienced directors and governance experts. The guide offers practical advice to help boards understand stakeholder expectations, engage more effectively and use stakeholder insights to inform decision-making.
We’ll also provide submissions on a range of governance developments and government consultations, including the latest ASX Corporate Governance Principles, the draft APRA governance standard critical infrastructure regulation and whistleblower protections.
With the regulatory and governance landscape continuing to evolve, we remain focused on helping directors stay informed and understand what these changes mean for their responsibilities, disclosure obligations and governance practices.
For a full list of AICD policy submissions, please visit here. To stay up to date with the latest governance news and analysis, click here.
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