ASX Updates

ASX Amendments to Appendix 4C and Appendix 5B – Quarterly Cash Flow Reports are now effective Just a quick update that, following on from ASX consultation regarding the proposed changes to Appendix 4C and 5B Quarterly Cash Flow Reports, ASX has confirmed that these changes are now effective. The details of the changes were outlined … More ASX Updates

Second anniversary of ASX CGPRs: Report sets a baseline for compliance

In this edition: Second anniversary of ASX CGPRs: Report sets a baseline for compliance Loss of licence: ASIC gets serious   Second anniversary of ASX Corporate Governance Principles and Recommendations: Report sets a baseline for compliance Almost two years after the ASX Corporate Governance Principles and Recommendations (CGPRs) came into effect, the ASX has release … More Second anniversary of ASX CGPRs: Report sets a baseline for compliance

ASX proposes updates to guidance on analyst and investor briefings

On 6 March 2015 the Australian Securities Exchange (the ASX) released a consultation paper (the Paper) on proposed changes to Guidance Note 8 Continuous Disclosure: Listing Rules 3.1 – 3.1B (GN 8). The changes expand upon the existing ASX guidance given in relation to analyst and investor briefings, analyst forecasts, consensus estimates and earnings surprises.  The Australian … More ASX proposes updates to guidance on analyst and investor briefings

Keeping up appearances: ASX revises guidance on trading policies

On 30 January 2015 the ASX released an updated Guidance Note 27: Trading Policies (GN 27).  The release came after some highly publicised events that have called into question certain listed entities’ approach to, and enforcement of, share trading policies. For example, the allegations of inappropriate share trading by two directors of David Jones in 2014, … More Keeping up appearances: ASX revises guidance on trading policies

ASIC’s strategic outlook: compliance and culture are key

ASIC has published its Strategic Outlook for 2014-15, which, according to the ASIC website, is a new initiative which sets out the key risks ASIC sees in the markets it regulates, and how ASIC will respond – prioritising its tools of surveillance and enforcement. The Outlook contains a mixture of old and new messages and … More ASIC’s strategic outlook: compliance and culture are key

ASX Update: Gold fools: Newcrest’s woes continue

Gold fools: Newcrest’s woes continue We recently wrote a blog about the importance of ASX listed entities maintaining satisfactory continuous disclosure practices and procedures following Newcrest Mining Limited’s (Newcrest) highly publicised breaches of its continuous disclosure obligations. On 2 July 2014 the Federal Court (Court) determined that Newcrest had on two occasions contravened its continuous … More ASX Update: Gold fools: Newcrest’s woes continue

ASX Governance Disclosure Checklist Now Available

As mentioned in our recent blog significant changes introduced by the new ASX Corporate Governance Principles and Recommendations (3rd Edition, 2014) (ASX CGPRs) will require all ASX listed entities to review their current website disclosures and the way in which the present disclosures in future Annual Reports. To assist our clients and subscribers CompliSpace has developed … More ASX Governance Disclosure Checklist Now Available

ASIC sets out its expectations of directors

If you blinked you may have missed it. Greg Medcraft, the Chairman of the Australian Securities and Investments Commission (ASIC), recently addressed the Australian institute of Company Directors giving a speech titled ‘What ASIC Expects of Directors’. Whilst Mr Medcraft addressed the topic of director duties in the context of viewing directors as ‘gatekeepers’ of … More ASIC sets out its expectations of directors

Are your ASX continuous disclosure practices up to scratch? Lessons from Newcrest.

Newcrest Mining Ltd (Newcrest) is the largest gold company listed on the ASX and one of the world’s largest gold mining companies. Its breaches of its continuous disclosure obligations have attracted a lot of recent media attention and unfortunately for Newcrest, its executives and board of directors, the company now presents as a case study … More Are your ASX continuous disclosure practices up to scratch? Lessons from Newcrest.

ASX Corporate Governance Principles and Recommendations take effect

The new ASX Corporate Governance Principles and Recommendations (3rd Edition, 2014) (ASX CGPRs) take effect for a listed entity’s first full financial year commencing on or after 1 July 2014. This means that if you have a 30 June 2014 balance date you will not need to report against the new ASX CGPRs until the … More ASX Corporate Governance Principles and Recommendations take effect