The Australian Securities and Investments Commission has released a consultation paper on disclosure of substantial holdings arising from securities lending or prime broking.
The Australian Securities and Investments Commission has released a consultation paper on disclosure of substantial holdings arising from securities lending or prime broking.
The consultation paper seeks to improve disclosure of substantial holdings in practice and makes it clear that securities lending transactions and prime broking arrangements need to be taken into account in calculating a substantial holding.
Improved disclosure in this area is part of ASIC’s efforts to rebuild and maintain confidence in the integrity of Australia’s markets.
ASIC is seeking stakeholder feedback on these proposals.
Submissions on the proposals close on 7 August 2009.
