Continuous Disclosure - when, what and how? - the text of a speech delivered to the Chartered Secretaries Australia Conference on 1 June 2010 by David P. Selig
Continuous disclosure is one of the most important elements underpinning the integrity and orderly conduct of public equity markets. Whilst always being an important area of compliance, continuous disclosure seems to have received increased attention over the past twelve months, since the James Hardie and the Fortescue Metals decisions and the effects of the Global Financial Crisis. A number of listed companies have also recently received ASX "aware letters". The personal liability issues associated with a failure to satisfy continuous disclosure obligations have the ability, at best, to seriously distract a company's board and management from the primary demands of running a business, and at worst, are likely to be extremely damaging to the balance sheet of the company and the reputations of its board and senior management.
