AICD urges caution of ASX study
Peak body the Australian Institute of Company Directors (AICD) has urged investors to “keep in perspective” the results of an investigation by the ASX into company trading during blackout periods.
The study uncovered 795 trading breaches by company directors in the three months to March 30 this year, with 70 referred to ASIC for investigation.
AICD chairman John Story said the institute is concerned that investor confidence in directors and the market is being undermined without due cause, as late disclosure and trading in blackout periods has been mistakenly confused as evidence of actual insider trading.
While welcoming the “need [for regulators] to be vigilant and act forcefully when they have evidence that inappropriate trading activity is occurring, he said “some interest groups have sought to discredit directors by drawing conclusions without complete consideration of the regulatory framework governing share trading practices and the fiduciary duties of directors”.
Recommended for you
With an advice M&A deal taking around six months to enact, two experts have shared their tips on how buyers and sellers can avoid “deal fatigue” and prevent potential deals from collapsing.
Several financial advisers have been shortlisted in the ninth annual Women in Finance Awards 2025, to be held on 14 November.
Digital advice tools are on the rise, but licensees will need to ensure they still meet adviser obligations or potentially risk a class action if clients lose money from a rogue algorithm.
Shaw and Partners has merged with Sydney wealth manager Kennedy Partners Wealth, while Ord Minnett has hired a private wealth adviser from Morgan Stanley.
