The Australian Securities and Investments Commission (ASIC) has moved to provide retail investors with easier access to corporate bonds.
The regulator this week issued a consultation paper that it said was intended to assist with the development of a sustainable listed corporate bond market in Australia by providing relief from long-form prospectus requirements.
Commenting on the move, ASIC chairman Tony D’Aloisio said the regulator wanted to support the listed bond market and ensure that retail investors understood the nature and investment risks associated with corporate bonds.
He said the proposed relief with respect to long-form prospectuses would be conditional upon companies being listed and having a good continuous disclosure history, the bonds on offer being simple vanilla bonds and the size of the bond offer being at least $100 million.
