IFSA and ACSI lay down corporate governance views
The Investment and Financial Services Association (IFSA) and the Australian Council of Superannuation Investors (ACSI) have called for a review of market transparency and disclosure in the wake of recent controversies surrounding securities lending, director share trading, margin loans and short selling.
In a joint statement, IFSA and the ACSI set out their views and corporate governance principles, confirming their positions on market integrity and the efficiency of the Australian capital market.
The two bodies believe companies should adhere to the Corporations Act and the Australian Securities Exchange listing rules to ensure that regulation is directed at maintaining high market integrity.
IFSA and ACSI believe company policy should be disclosed to shareholders and expressed concerns about short selling and securities lending practices that might put market integrity at risk.
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