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The continuous disclosure obligations in Australia: do they still have substantive content and can those relying on public disclosures make confident informed decisions?

North, Gillian 2013, The continuous disclosure obligations in Australia: do they still have substantive content and can those relying on public disclosures make confident informed decisions?, Australian Journal of Corporate Law, vol. 28, pp. 233-252.

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Title The continuous disclosure obligations in Australia: do they still have substantive content and can those relying on public disclosures make confident informed decisions?
Author(s) North, Gillian
Journal name Australian Journal of Corporate Law
Volume number 28
Start page 233
End page 252
Total pages 19
Publisher LexisNexis Butterworths
Place of publication Chatswood, N.S.W.
Publication date 2013
ISSN 1037-4124
Summary The Australian Securities Exchange has recently amended Guidance Note 8 to Listing Rule 3.1 to provide greater clarity around the continuous disclosure obligations. This article argues that the requirements to update the market on changes in trading conditions and associated changes to expected earnings are unduly ambiguous and that persons relying on publicly disclosed company information may struggle to make confident informed decisions. The move from objective earnings variations to opaque and transient private measures as the basis for determining disclosure of earnings related news is viewed as a retrograde step that does not accord with international best practice. These amendments are expected to weaken the corporate disclosure regime, discourage the provision of public guidance by listed companies, and raise the bar for those involved with supervision and enforcement of company disclosure matters.
Language eng
Field of Research 180109 Corporations and Associations Law
1801 Law
1501 Accounting, Auditing And Accountability
1503 Business And Management
Socio Economic Objective 949999 Law
HERDC Research category C1.1 Refereed article in a scholarly journal
ERA Research output type C Journal article
Copyright notice ©2013, LexisNexis Butterworths
Persistent URL http://hdl.handle.net/10536/DRO/DU:30091041

Document type: Journal Article
Collection: Law
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