AUSTRALIA: ASIC releases report on emerging market issuers in Australia

Tuesday September 3 2013

The Australian Securities and Investments Commission (ASIC) has published Report 368 Emerging market issuers, which examines the activities of ASX-listed emerging market issuers. ASIC did not identify any systemic concerns, but noted some specific challenges that retail investors should be made aware of.

Amongst other things, ASIC recommends that emerging market issuers tailor their compliance arrangements to take into account the practical issues they face, and also recommends that such issuers focus on the disclosure they provide to their investors regarding these challenges in a manner consistent with the ASX Listing Rules and ASIC’s regulatory guidance.

ASIC has stated that it will continue monitoring emerging market issuers over the coming year through its financial reporting surveillance programs and review of lodged disclosure documents.

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