1.4 Combating AGD Foreign bribery and deferred prosecution Foreign bribery and DPAs (milestones 1 PM&C advice: On corporate crime agreements (DPAs) (milestones 1 and 2) and 2) Public consultations on closed on 1 May 2017. Consider submissions made on AOGPN: Public consultations on Proposed model for a consultation papers (Foreign Bribery Foreign bribery & DPA – deferred prosecution agreement scheme in 16 submissions; DPAs - 18 submissions) submissions published; Australia ( proposed reforms) closed on 1 May and views expressed at Government AGD is known to have 2017. Business Anti-Corruption Roundtable held forums with (the subject of commitment 4.2) and business only, business AML/CTF Act review (milestone 3) the recent multi-stakeholder and civil society and it Phase 1 is progressing priority legislative and consultation forum. was discussed at a non-legislative reforms for completion in 2017. forum with global law Public consultation via written submission on AML/CTF Act review (milestone 3) enforcement agencies; the content of the proposed legislative reforms Priority legislative reforms introduced recent and a series of roundtable and industry specific in second half of 2017. meetings have concluded; feedback received is Publish cost-benefit analysis for consultation forum not now carefully considered. Tranche Two entities by June 2017. found; Work is also well progressed on a cost-benefit consultation or other analysis of models for Two’ entities involvement of civil ASIC enforcement review (milestone 4) ‘Tranche (lawyers, conveyancers, accountants, real Provide a final report to Government by society in AML/CTF Act estate agents, trust and company service the end of September, 2017. review not reported; providers and high-value dealers). it is known that Civil society representatives ASIC enforcement review (milestone 4) are sitting on the The review will be consulting on a number of consultative group for issues, including penalties for corporate fraud, this ASIC enforcement prior to the delivery of a final report to review measure and a Government.
1.4 Combating corporate crime AGD Foreign bribery and deferred prosecution agreements (DPAs) (milestones 1 and 2) Public consultations on closed on 1 May 2017. Public consultations on Proposed model for a deferred prosecution agreement scheme in Australia ( proposed reforms) closed on 1 May 2017. AML/CTF Act review (milestone 3) Phase 1 is progressing priority legislative and non-legislative reforms for completion in 2017. Public consultation via written submission on the content of the proposed legislative reforms and a series of roundtable and industry specific meetings have concluded; feedback received is now carefully considered. Work is also well progressed on a cost-benefit analysis of models for ‘Tranche Two’ entities (lawyers, conveyancers, accountants, real estate agents, trust and company service providers and high-value dealers). ASIC enforcement review (milestone 4) The review will be consulting on a number of issues, including penalties for corporate fraud, prior to the delivery of a final report to Government. Foreign bribery and DPAs (milestones 1 and 2) Consider submissions made on consultation papers (Foreign Bribery – 16 submissions; DPAs - 18 submissions) and views expressed at Government Business Anti-Corruption Roundtable (the subject of commitment 4.2) and the recent multi-stakeholder consultation forum. AML/CTF Act review (milestone 3) Priority legislative reforms introduced in second half of 2017. Publish cost-benefit analysis for Tranche Two entities by June 2017. ASIC enforcement review (milestone 4) Provide a final report to Government by the end of September, 2017. PM&C advice: On AOGPN: Foreign bribery & DPA submissions published; AGD is known to have held forums with business only, business and civil society and it was discussed at a forum with global law enforcement agencies; recent consultation forum not found; consultation or other involvement of civil society in AML/CTF Act review not reported; it is known that Civil society representatives are sitting on the consultative group for this ASIC enforcement review measure and a
aogpn_2017_commitment_implementation_overview_18may.docx