ASIC in sweeping IPO crackdown over favourable treatment

Original article by Joyce Moullakis
The Australian Financial Review – Page: 25 : 25-May-18

The Australian Securities & Investments Commission has warned stockbrokers that it will clamp down on favourable treatment of certain investors when it comes to allocating shares via IPOs. Cathie Armour of ASIC says it is important that brokers keep the needs of the issuer client in mind when allocating shares. She also says ASIC is concerned about listing standards, particularly with regard to overseas companies that seem to have little business interest in Australia that seek to list on the local bourse.

CORPORATES
AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION, STOCKBROKERS AND FINANCIAL ADVISERS ASSOCIATION LIMITED, AUSTRALIA. FINANCIAL ADVISER STANDARDS AND ETHICS STANDARDS AUTHORITY

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