THE Financial Services Council (FSC) has welcomed the Federal Government’s announcement to regulate proxy advice.

The FSC said it supported the government’s aim of ensuring that the provision of proxy advice to superannuation funds and fund managers was transparent and independent.

Acting CEO of the FSC, Blake Briggs, said, “We are pleased the government has responded to industry feedback on the initial Treasury consultation paper and improved on the original proposals.

“Superannuation funds manage almost $3.5 trillion on behalf of Australians, so it is critical that proxy voting arrangements are transparent so consumers can be confident that trustees and fund managers are exercising their voting power according to members’ best financial interests," he said.

“The government’s reforms align with existing industry best practice, reflected in the FSC's enforceable Standards for our members on proxy voting and asset stewardship.”

The Federal Government has also taken on board the industry’s concerns that the proposed timeframes, which would have required proxy advisers to provide information to subject companies prior to clients, were unworkable.

“Aligning the dates that proxy advisers will be required to share information with their clients and the subject companies is a sensible compromise by the government that will facilitate compliance for proxy advisers, superannuation funds and fund managers during the busy AGM season,” Mr Briggs said.

The FSC also supported the provision of proxy advice being covered by an Australian Financial Services Licence (AFSL). This would mean that the provision of proxy advice would be subject to the general obligations under the Corporations Act and appropriate regulatory oversight.

www.fsc.org.au

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HEALTH vigilance in the workplace has never been more important now that Australia has switched from trying to eliminate COVID-19 to living with it.

Cases have exploded in the weeks since most of the country relaxed domestic borders and COVID restrictions. Many of these cases are being identified in businesses with employees who work indoors or in tight spaces. One of the main questions business owners are asking as a result, is what steps must be taken if a suspected, or confirmed case is identified in the workplace?

“If a worker receives a positive test result while in the workplace, the first step an employer must take is to isolate the person from others and provide them with a mask, should a mandate requiring one be worn not already be in place,” said Larry Drewsen, health and safety manager at Employsure, one of Australia’s largest workplace relations advisors.

“Next, the employer should call the national COVID-19 hotline and follow the advice of health officials. Removing the infected employee from the workplace and ensuring the employee has transport to their home will be crucial. Workers assisting the positive employee must be provided with the appropriate personal protective equipment (PPE), such as gloves and a mask, and follow hand hygiene procedures.

“Consideration is required as to whether the employer should notify their Health and Safety Regulator. In most jurisdictions, a notification to the relevant state or territory Health and Safety Regulator is usually required.

“Cleaning the area where the infected employee has been working should be a priority, and PPE should be worn when doing so. Those who have worked with the infected employee should be identified and all necessary state or territory health authority advice followed, and their workspaces also cleaned," Mr Drewsen said.

“The employer should also use this time to look at their existing infection control policies, and review if any changes need to be made, such as shifting employees to working from home if applicable. Any changes should be communicated with employees to keep them up to date on what is happening.”

Employers must understand the privacy and confidentiality of the person who tested positive for COVID-19 must always be maintained, Mr Drewsen said.

Employers may also be faced with the scenario of an employee testing positive to COVID-19 when they are not in the workplace. However, if that employee has still recently been in the workplace, the same steps of identifying those who have worked with the employee, cleaning workspaces and common areas, and reviewing infection control policies should still occur.

Due to Australia’s high vaccination rate, it is no longer a requirement to completely close down an entire workplace for deep cleaning, especially if an infected employee has only worked in part of the building.

Nevertheless, Mr Drewsen said, employers should continue to enforce the wearing of masks (that fit securely to the face and cover the nose and mouth) if there is a health direction to do so, and ensure routine environmental cleaning and disinfecting takes place regularly, and that employees follow all personal hygiene guidelines.

"Implementing the right strategies can be hard, particularly for those in high-risk settings, but if it isn’t done right it can cost lives," Mr Drewsen said. "Ensuring a safe workplace is a year-long commitment and employers must get it correct. If they have doubts on how to best manage their health and safety obligations, they should refer to government health advice or contact Employsure."

www.employsure.com.au

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SOCIAL MEDIA and technology industry giants Google, Meta, TikTok and Twitter will be appearing at public hearings examining online safety matters with the House of Representatives Select Committee on Social Media and Online Safety.

These hearings will be held on Thursday, January 20, And Friday, January 21, 2022.

Committee Chair Lucy Wicks MP said these hearings would enable the committee to scrutinise the industry’s response to online harms and abuse faced by everyday Australians.

"The committee’s early hearings received powerful evidence from people who have experienced different types of online harm, and in these hearings the committee can examine how the industry intends to move forward and protect its users," Ms Wicks said.

Other witnesses across the two days include further stakeholders from the technology sector, including the Digital Industry Group (DIGI), Reset Australia and the Centre for Digital Wellbeing. The committee will also hear evidence from academics and researchers, mental health organisations and government agencies.

Programs for both hearings can be found on the committee’s website.

The committee will hold further hearings in coming weeks. Submissions have closed, and the committee is reviewing evidence received in from the community in addition to evidence gathered in the public hearings. The committee anticipates tabling its final report in the Parliament by February 15, 2022.

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THE Health Services Union (HSU) is calling on Prime Minister Scott Morrison to fund a ‘home guard’ style system which would allow everyday Australians to provide support to the overwhelmed aged care sector.

The emergency initiative, similar to the Volunteer Defence Corps deployed during World War II, would help alleviate pressure on exhausted staff and provide a way for Australians who can and want to help to do so, a union spokesperson said.

It comes on top of requests from aged care providers and unions today to deploy the Australian Defence Force to support the sector and provide staff with an additional direct payment.

HSU national president Gerard Hayes said the sector was in the middle of an unprecedented crisis and requires immediate assistance.

“Conditions for both staff and residents are deteriorating rapidly as COVID cases in aged care continue to rise,” Mr Hayes said.

“We are hearing horrific reports from our members. Some facilities are so short staffed residents aren’t being showered for days. Others are experiencing food supply issues.

“The majority of staff are exhausted and many are quitting. It is an unmitigated catastrophe.

“The Morrison Government failed to prepare before letting Omicron rip and this is the disastrous result. The Prime Minister could help fix this crisis now by paying everyday Australians to provide support to aged care facilities in roles which don’t require training such as food delivery," Mr Hayes said.

“Australians could become ‘community angels’, helping facilities in dire need of assistance, particularly in regional and remote areas.

“The Morrison Government needs to do whatever it takes to relieve pressure on aged care. Rapid Antigen Tests should also be made free and available to all and the sourcing of adequate Personal Protective Equipment for all workers should be made a priority.

“Overworked, modestly-paid staff and aged care residents, who helped build this country, deserve better.”

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