Guidance on "immediate" and "materiality" in continuous disclosure regime deferred

ASX was aiming to release a revised draft of Guidance Note 8 Continuous Disclosure: Listing Rule 3.1 for public consultation in April 2012. This was welcomed by CSA who held a Roundtable with the Australian Securities & Investments Commission (ASIC), ASX, non-executive directors, company secretaries, general counsel and CEOs in March to discuss the urgent need for more guidance on issues such as the definition of immediate and the standard of materiality when making announcements to the market on price-sensitive information. However, ASX has since agreed with ASIC that it would be appropriate to defer the release of the consultation draft of Guidance Note 8 until the High Court has handed down its decision in the appeal from the Fortescue case ... READ MORE

Released by CSA News Update - 11 April 2012