ASX has released the final version of revised Guidance Note 8 on continuous disclosure clarifying when an earnings surprise ought to be disclosed to the market. It also released a detailed paper setting out its response to submissions on the consultation draft.
ASIC recently announced that it will reduce the red tape involved in the process of a change of auditor. It will now consent to the resignation of an auditor at any time of the year, subject to conditions, when in the past such consent would only be granted if the auditor was resigning at the company’s AGM, other than in ‘exceptional circumstances’.
The release by the Federal Government of draft legislation mandating one-third independent directors and an independent chair on the boards of all APRA-regulated superannuation funds (corporate, industry, public sector, and retail funds, but not self-managed funds) has been welcomed by some in the superannuation industry and rejected by others.