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Content Type:
CDM Article
01 Apr 2013
In her final column, Belinda Gibson outlines what ASIC is doing to uphold Australia’s market integrity.
It has been my privilege to contribute to this magazine for over five years, but this will be the last, as my term as the Australian Securities and Investments Commission (ASIC) deputy ch...
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Content Type:
CDM Article
01 Apr 2013
Listed companies have jumped many hurdles to improve their executive pay practices and avoid falling foul of the "two-strikes" law. Now, as Domini Stuart reports, a new wave of pay reforms are heading their way.
The second reporting season since the introduction of the "two-strikes" rule l...
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Content Type:
CDM Article
01 Apr 2013
Professor Bob Baxt reviews some recent court cases that highlight the importance of ensuring your companies have a proper culture of compliance in place.
Directors, senior managers and officers of companies in Australia (referred to as directors here) are, of course, very familiar with spec...
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Content Type:
Policy Submission
28 Mar 2013
On 28 March 2013 the Australian Institute of Company Directors lodged a submission with the Australian Accounting Standards Board (AASB) in response to their exposure draft ED 233: Australian Additional Disclosures – Investment Entities (ED 233).
The Australian Institute of Company Directors do n...
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Content Type:
Policy Submission
13 Mar 2013
On 13 March 2013, the Australian Institute of Company Directors, at the request of ASIC, provided additional comments in regard to ASIC Consultation Paper 185 – Litigation Schemes and Proof of Debt Schemes - Managing Conflicts of Interest.
We responded to the following two questions posed by ASI...
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Content Type:
CDM Article
01 Mar 2013
Tony Featherstone believes we should give listed companies greater confidence about when to disclose price-sensitive information to the market rather than looking for temporary solutions.
No one doubts the need for a well-informed share market and giving listed companies more flexibility ...
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Content Type:
CDM Article
01 Mar 2013
Professor Bob Baxt explains how the courts are getting tougher on “white collar” crime and advises directors to ensure they understand their legal obligations, especially the prohibitions against insider trading.
There is little doubt that increasing focus is being placed on the performan...
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Content Type:
CDM Article
01 Mar 2013
Peter Kell discusses ASIC’s approach to complaints of misconduct and disputes between officeholders or members of small companies.
Setting up a business with other people is not too different from getting married. Mostly it works and sometimes it’s blissful. But often there are arguments...
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Content Type:
CDM Article
01 Feb 2013
Professor Bob Baxt summarises the messages sent by the NSW Court of Appeal in its recent judgment on penalties for James Hardie’s former directors.
On Sunday evening 11 November 2012, the eve of the New South Wales Court of Appeal penalty decision in Gilfillan v ASIC [2012] NSWCA 370 invo...
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Content Type:
CDM Article
01 Feb 2013
John M Green applauds our corporate regulator’s successes on insider trading.
Back in the Wild West, before the global financial crisis (GFC), insider trading and market manipulation were thought rampant. But not today, thanks to the efforts of the Australian Securities and Investments Co...
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Content Type:
Director Q and A
31 Jan 2013
Insider trading is the trading of securities while in possession of information which is not generally available and this is prohibited within the Corporations Act. This Q&A discusses what activities are prohibited, the various exceptions, and the penalties for individuals convicted of insider t...
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Content Type:
Director Q and A
31 Jan 2013
A listed company has an obligation to continuously disclose information which may have an effect on its market price or value. Continuous disclosure is based on the principle that all investors should have equal and timely access to information about a company. This Q&A explains ASX listing Rule...
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Content Type:
Policy Submission
21 Dec 2012
This submission relates to the Exposure Draft of the Human Rights and Anti-Discrimination Bill 2012, which was referred on 21 November 2012 by the Senate to the Senate Legal and Constitutional Affairs Committee for inquiry and report.
In the submission, we support the Bill to the extent that it ...
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Content Type:
CDM Article
01 Dec 2012
The recent Fortescue Metals court decision may be a relief for directors, but Professor Bob Baxt says it provides them with no new answers about Australia’s continuous disclosure regime.
The High Court of Australia is, of course, the last resort for Australians wishing to challenge legal ...
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Content Type:
CDM Article
01 Nov 2012
Zilla Efrat reports on the many boardroom lessons from the courtrooms discussed at the Essential Director Update.
"We can all learn from the misfortunes of our fellow directors," observed Alan Cameron AO FAICD as he launched into his address at the Essential Director Update in Sydney last...
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Content Type:
CDM Article
01 Nov 2012
Tony Featherstone examines the many hurdles faced by mining boards and provides some tips on how directors can overcome them.
Spare a thought for Australia’s resource sector. It faces a perfect storm of falling commodity prices, rising costs, new federal and state government taxes and roy...
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Content Type:
CDM Article
01 Nov 2012
James Scovell led the team that successfully defended Andrew Forrest in his six-year battle against Australia’s corporate regulator. Here, he talks about the intricacies of the Fortescue case and the lessons directors can learn.
Like most long-running matters, this case was incredibly com...
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Content Type:
CDM Article
01 Nov 2012
A monthly review of the Australian Institute of Company Directors’ policy and advocacy team’s key projects and issues.
The future of the AGM
Following the release of the Corporations and Markets Advisory Committee (CAMAC) discussion paper The AGM and Shareholder Engagement in Septembe...
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Content Type:
CDM Article
01 Nov 2012
Following the Fortescue judgment and ASX’s release of proposed revisions to a listing rule and guidance, Belinda Gibson provides some tips on how directors should tackle their continuous disclosure obligations.
The continuous disclosure obligations of companies, and their directors, have ...
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Content Type:
CDM Article
01 Oct 2012
Reece Walker examines whether crowd funding is a viable source of capital or plagued by too many issues to make it worthwhile.
Crowd funding has come a long way from its origins of backing struggling rock bands. It has proven a highly successful vehicle to raise funds for disaster relief,...