ASIC proposes changes to infrastructure disclosure
Infrastructure entities are the next in line for a shake-up by the Australian Securities and Investments Commission (ASIC), with the release of a consultation paper aimed at improving disclosure to retail investors.
The paper proposes that a benchmark-based disclosure model should apply to all listed and unlisted infrastructure companies and registered managed investment schemes.
ASIC also released a consultation paper earlier this month concerning disclosure in agribusiness schemes.
ASIC commissioner Greg Medcraft said the changes aim to give investors a better understanding of the “key characteristics and risks associated with investment in an infrastructure entity”.
The benchmarks will focus on key issues like corporate structure and management, funding, assumptions in models and sensitivity analysis of those assumptions, valuation, distribution, withdrawal and diversification.
The deadline for comments on the paper is June 30, with the proposed release set for September this year.
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