Australia’s corporate watchdog plans to sit-in on meetings between listed companies and analysts, according to the Australian Financial Review.
It’s always been able to monitor formal briefings between company executives and investment bank and broking house analysts after a results release, but now it’s also going to have its foot in the door at informal meetings.
Commissioner Cathie Armour said in the article she thought Australian companies would be happy to let its representatives join in.
“This is all about raising the standards the gatekeepers [company managers and investor relations teams] operate by,” she said.
“Part of the exercise is to test whether we are comfortable with current practice.”
This comes after Newscast was accused of selectively briefing the market about a gold production forecast.
Read more about it here.
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