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2024 regulatory enforcement trends and what they mean for the year ahead
2024 regulatory enforcement trends and what they mean for the year ahead

Conduct and culture

Key regulatory and enforcement developments in Australia in 2024

  • Allegations against senior executives: in 2024, we saw a spate of allegations concerning conduct and culture within large organisations, including within the higher echelons of management and at board level. In some cases, these allegations led to regulatory investigations, including against MinRes. These matters have had a significant impact on the individuals involved and the companies generally.
  • Corporate whistleblower laws: throughout 2024, ASIC investigated a number of organisations in relation to compliance with whistleblower laws. ASIC also continued its first civil penalty proceedings under the whistleblower regime against Queensland coal producer TerraCom and some of its directors.1 Notably, this case includes alleged breaches of whistleblower laws and directors' duties, continuing the trend of ASIC pursuing individual directors and companies.
  • Positive duty to eliminate sexual harassment and related conduct: the AHRC's powers to enforce compliance with the positive duty under the Sex Discrimination Act commenced in December 2023. Throughout 2024, the AHRC took a collaborative and consultative approach to enforcement by 'help[ing] employers and PCBUs to improve their own practices through voluntary compliance measures'2 (eg making recommendations to promote compliance).
  • Psychosocial health and safety: all jurisdictions except Victoria have introduced new duties to control psychosocial risks in the workplace. Health and safety regulators are increasing their enforcement action in this space, ranging from improvement notices to prosecution for serious breaches.

What are the likely regulatory and enforcement developments in Australia in 2025?

  • Corporate whistleblowing: the corporate whistleblower laws were due for review in 2024, although no public announcements have been made to date. During 2025, we expect to see the introduction of a private members bill proposing a new regulator, the Whistleblower Protection Authority, to encourage increased whistleblower activity and enforce public, corporate and tax whistleblower laws. The potential introduction of bounties (ie financial rewards for certain whistleblower disclosures) may also be revisited to incentivise whistleblowers to come forward.
  • Psychosocial health and safety: safety regulators currently have a strong focus on psychosocial health and safety, so we expect enforcement action in this space will increase. We also anticipate that regulators will turn their attention to sexual harassment and related matters and fatigue management.
  • Victorian psychosocial regulations: the Victorian Government is currently considering options for psychosocial health and safety regulations similar to other jurisdictions. Such regulations would likely strengthen the existing duty to provide and maintain a working environment that is without risks to health and safety (including psychological health and safety) so far as is reasonably practicable.

Who are the key regulators in relation to this area?

  • Corporate conduct: ASIC and APRA.
  • Health and safety: Comcare, SafeWork NSW, WorkSafe Victoria, Workplace Health and Safety Queensland, SafeWork SA, WorkSafe WA, WorkSafe Tasmania, NT WorkSafe and WorkSafe ACT.
  • Workplace relations: Fair Work Ombudsman and AHRC.

What are the key sectors of focus?

  • Corporate conduct: financial services, entertainment and media.
  • Health and safety: high-risk industries (eg mining and construction).
  • Workplace relations: large organisations and industries with significant gender and/or power imbalances (eg healthcare).

Footnotes

  1. A brief history of the matter is linked here

  2. Australian Human Rights Commission Positive Duty Compliance and Enforcement Policy (December 2023)