In recent months, Australia’s carbon market has seen a number of challenges to integrity, as well as policy interventions that have led to at the very least, risks in the market and the business operating context.
Such developments have led to unforeseen and significant changes in market conditions, including price shocks, erosion of investor confidence, and an increase in regulatory and legislative risk for a range of market participants.
These changing market conditions may lead to real or perceived market behaviours that fall within the purview of the Code, including those that increase market volatility, uncertainty, or market misconduct.
The Code Administrator will remain vigilant to ensure there are no behaviours exhibited by Code Signatories that may result in inappropriate benefit at the expense of clients.
To assist Signatories in maintaining best practice integrity and accountability during this period, the Administrator has issued a statement as a reminder of their existing obligations to clients as set out in the Code, relating to:
- ethical conduct;
- provision of information and financial advice;
- disclosure and independent advice;
- complaints handling; and
- engagement with the Code Administrator.
Click below to view and download the Administrator’s Statement.