The Corporations and Markets Advisory Committee (CAMAC) released an issues paper on 10 February 2009 titled “Aspects of Market Integrity” inviting submissions from the public by 10 March 2009 in relation to the following market practices:

• directors' interests in listed securities and margin lending;
• 'blackout’ trading by company directors;
• spreading false or misleading information; and
• disclosure of market-sensitive information.

The issues paper follows a letter from the Minister for Superannuation and Corporate Law in November 2008 to CAMAC, commissioning it to look into the market practices.  The Minister expressed concern about the effect of the above market practices on market integrity in the fallout from the recent economic turbulence.  The issues would be of particular concern and interest to listed entities and their boards.

HopgoodGanim has particular interest in how the market practices set out in the first two bullets above would affect its clients and intends to make submissions to CAMAC addressing those market practices only.  Interested clients who would like HopgoodGanim to make submissions on their behalf can submit their comments to us by 9 March 2009 for consideration and inclusion in our submissions to CAMAC.  Please send recommendations to Lea Fua (l.fua@hopgoodganim.com.au) or Liz Cameron (l.cameron@hopgoodganim.com.au).

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