ASIC publishes first report on corporate finance regulation 


The Australian Securities and Investments Commission (ASIC), has today published the first of a series of regular reports it intends issuing on the regulation of corporate finance issues in Australia.

The report, which covers the period January to June 2014, is intended to provide companies and their advisers with insights into ASIC’s regulatory approach in the corporate finance sector and assist them with their associated legal and compliance obligations. It also demonstrates the important role ASIC plays in facilitating business in Australia while ensuring that the protection of the investment community is maintained.

Report 406 ASIC regulation of corporate finance: January to June 2014 (REP 406) provides statistical data, highlights key focus areas, and includes relevant guidance about ASIC’s regulation of:

  • fundraising transactions
  • mergers and acquisitions
  • corporate governance issues
  • financial reporting, and
  • share buy-backs.

Of assistance to practitioners in the corporate finance sector, REP 406 also details the approach ASIC takes in these areas, including the types of issues that have caused us to intervene and our approach to novel issues we have seen in mergers and acquisitions transactions.

Further, the report provides an overview of ASIC’s current policy initiatives in this space and where we expect to undertake further consultation.

ASIC Commissioner John Price said, ‘The report offers a useful resource in understanding ASIC’s decision-making and complements a variety of other means ASIC employs to connect with its key stakeholders. These include direct liaison, speeches and presentations and ASIC’s twice-yearly Corporate Finance Liaison meetings in capital cities around Australia.’

ASIC welcomes feedback on this report, including other content that could helpfully be included for practitioners in the corporate finance space. The report can be found here.


Source: ASIC

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