Business
ASIC issues new advice for activist short sellers to curb ambush tactics – The Sydney Morning Herald
The corporate watchdog has stopped short of issuing actual recommendations and the advice is likely to be unenforceable against offshore groups.
This is a large and growing element of short sellers that deliberately target companies and concoct misleading information about them to manipulate the share price so asking them to be a good chap its just contrary to their intentions.
But others in the market welcomed the changes.
This is the first time our regulator has adopted the language of those critical of this conduct, short and distort, said Leon Zwier, a partner at Arnold Bloch Leilber, who has advised a large number of ASX-listed groups.
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