Compliance & Ethics

ASIC has published Form 520, the Declaration of Solvency that a majority of directors must sign and lodge under section 494 of the Corporations Act 2001 before a company enters a members' voluntary winding up. The declaration carries personal exposure for directors, because it attests that the company can pay its debts in full within 12 months of the winding up commencing. Compliance and legal teams handling entity rationalization or restructuring should confirm their internal processes support an accurate, properly supported declaration.

Japan's Financial Services Agency promulgated Cabinet Office Ordinance amendments under the Financial Instruments and Exchange Act (FIEA) that relax rules on group company bond solicitation and on domestic venture funds investing in overseas venture funds, and that designate rights in depositary receipts without physical certificates as securities. The first two amendments take effect September 16, 2026, and the third on October 5, 2026, so compliance teams have little time to assess impacts and update procedures.

Meta had planned to introduce new commercial terms on October 30 that could give it access to content published on the websites of businesses using its services. The company would be able to use that material to develop its own products, including artificial intelligence features, without necessarily giving publishers a choice over how their work was used.

The Central Bank of the United Arab Emirates has fined the local branch of an unnamed foreign bank approximately $54.5 million (AED 200 million) after examinations found significant and repeated failures in its anti-money laundering controls, governance and sanctions compliance. Two senior executives were also penalized, and the bank must undertake a mandatory remediation programme subject to independent validation.

ASIC's Form 511 is a standing form, not a new rule. It requires controllers and liquidators to verify, by signed statement, reports they receive under s430(1), s446C(2) or s475(2) of the Corporations Act 2001, and to lodge that statement within 7 days of receipt. Teams handling insolvency, receivership, or administration matters should confirm their lodgement processes are current. Late lodgement triggers fees, and ASIC may reject a non-compliant form.

OSFI's Office of the Chief Actuary published the 2027 Employment Insurance actuarial report, projecting a 7-year forecast break-even rate of 1.62% for employees (2.27% for employers), down slightly from 1.63% in 2026. Maximum insurable earnings rise 2.8% to CAD $70,800, and the EI Operating Account deficit is forecast at CAD $15.2 Billion. Payroll, HR, and compliance teams at employers must update withholding and premium calculations, and those with qualified wage-loss plans should review the revised premium reductions.

The SEC has adopted amendments to Volume II of the EDGAR Filer Manual and related rules and forms, with EDGAR Release 26.3 deploying on September 14, 2026. Compliance teams responsible for SEC electronic filings should confirm that their filing processes, software, and credentials align with the updated manual so that submissions are not rejected or delayed.