Business
ASIC to hand over documents to clarify litigation funders debacle – Sydney Morning Herald
The corporate watchdog says it is still working on how it will police class action funders despite its new role coming into effect in five weeks.
Following an invitation by committee chair Liberal Senator James Paterson to clarify its answers, ASIC deputy chairmain enforcement Daniel Crennan, QC, appeared to walk back the assertion there was no consultation on the new rules, saying he met with government officials, including Treasury officials, in March, April and May.
He said this was “to discuss the possible content of prospective legislative instruments, including one relating to the continuous disclosure regime”.
“Throughout that pe…
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