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.
Recommended for you
ASIC has launched court proceedings against the responsible entity of three managed investment schemes with around 600 retail investors.
There is a gap in the market for Australian advisers to help individuals with succession planning as the country has been noted by Capital Group for being overly “hands off” around inheritances.
ASIC has cancelled the AFSL of an advice firm associated with Shield and First Guardian collapses, and permanently banned its responsible manager.
Having peaked at more than 40 per cent growth since the first M&A bid, Insignia Financial shares have returned to earth six months later as the company awaits a final decision from CC Capital.
