Business
Investors slam Frydenberg’s watering down of company laws – Sydney Morning Herald
Investors, including the group overseeing $1.5 trillion of investments, say the new rules make it easier for the few bad companies who mislead shareholders.
Investor confidence in the Australian market relies on disclosures being accurate. These changes could undermine that confidence by providing protection for companies making poor disclosures.
Reducing accountability for poor disclosures is not the answer to addressing issues with class actions. These policy issues should be considered and addressed separately from the continuous disclosure and director liability regime.
The new changes will mean that listed company directors will only be liable…
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