18 February 2014

ASIC roundtable on corporate governance

The Assistant Treasurer, Senator the Hon Arthur Sinodinos AO, today announced that the Australian Securities & Investments Commission will convene a roundtable to explore how to more effectively implement the existing framework relating to corporate governance.

“The Abbott Government takes the principles of corporate governance seriously,” said Senator Sinodinos.  “Providing a forum for key market participants to discuss director share trading and the handling of confidential information of listed companies is a timely and sensible initiative.”

The meeting, convened at ASIC’s suggestion, will include representative bodies from corporate Australia and will consider:

  • Current market practice regarding director share trading in Australia and related aspects of market integrity.
  • Forthcoming ASIC findings regarding the handling of confidential information by listed companies.

“I look forward to the roundtable considering these issues and to contribute to the discussion on whether current market practice meets community expectations and potential areas for improvement,” said Senator Sinodinos.

Representatives that have agreed to participate in the roundtable include the Australian Shareholders’ Association, Australasian Investor Relations Association, Stockbrokers Association of Australia, ASX, Australian Institute of Company Directors and the Governance Institute of Australia.

The meeting will be held on 14 March 2014 with ASIC to report to the Assistant Treasurer by the end of April 2014.