The last few years should have cured directors of any complacency as to just how heavy those responsibilities can be. Nineteen directors have been convicted in the High Court since 2010; seven of those are now in jail and a further nine are serving home detention, or facing community service or fines. As at the date of writing, there are approximately 13 more directors still waiting for their day in court.

These high profile cases have left hundreds of thousands of investors, many of them elderly, facing painful losses. Billions of dollars of wealth has been wiped out and with it, confidence in capital markets. In the wake of the many individual tragedies there has been a public backlash that Parliament has quickly responded to.

In this seminar, we:

• outline the current legislative developments affecting director liability, including the Financial Conduct Markets Bill, and cartel criminalisation legislation;

• outline and place in context the key recent decisions in New Zealand and Australia; and

• address a number of the key legal and strategic issues which are currently arising.