Friday, 26 June 2015

Australia: ASIC guidance - collective action by investors

The Australian Securities and Investments Commission has published an updated edition of Regulatory Guide 128 - Collective Action by Investors: see here (pdf). The guidance is intended for investors wanting to cooperate with each other in relation to their investment in a listed company or managed investment scheme. The guidance has been published by ASIC for two reasons: (1) to encourage collective action that can promote improvements in corporate governance for the long-term benefit of the entity; and (2) to deter investors from taking action that is inconsistent with the letter or spirit of the takeover and substantial holding provisions within the Corporations Act 2001.

No comments:

Post a Comment