The Australian Securities and Investments Commission (ASIC) has reminded licensees appointed to oversee equity raising transactions to ensure they appropriately manage conflicts of interests and confidential information about transactions.
‘Otherwise, there is a risk that a breach of financial services laws may occur,’ says ASIC Commissioner Cathie Armour. ‘This may include misleading and deceptive conduct, breaches by licensees of their general conduct obligations, insider trading and market manipulation.’
