Time: 7.30am for 7.45am to 9.00am
Venue: HopgoodGanim Lawyers, level 8 boardroom a, Waterfront Place, 1 Eagle Street, Brisbane
Following the release of CAMAC's "Aspects of Market Integrity" report last year, regulators have stepped up their efforts to maintain and promote market integrity by reducing the risk of information leaks and insider trading.
Late last year, both ASIC and ASX released consultation papers on the issues affecting the way that directors, senior management and company secretaries conduct themselves when in possession of price sensitive information.
ASIC looked at how price sensitive information is leaked immediately before M&A or capital raising announcements, and has proposed a set of best practice guidelines, aimed at helping companies make decisions about handling such information.
ASX examined the activities of directors and senior management when trading in company securities and proposed reforms to trading while in possession of price sensitive information, such as during "blackout periods". The proposed reforms will come as amendments to the Listing Rules, aimed at encouraging companies to implement robust policies for trading their securities in specific circumstances.
This informative seminar provided attendees with an overview of the changes proposed by ASIC and ASX, including how and when price sensitive information can and should be used, helping them to avoid the pitfalls associated with disclosure and legislative requirements. With ASIC taking over the role of market regulator from ASX, it's vital that company secretaries are aware of these reforms and have a good working knowledge of how these aspects of market integrity are likely to be policed.
