In this update:
ASIC reports on the 2017 AGM season
New ASIC guidance on sell-side
Report 564 Annual general meeting season 2017 (REP 564) examines the voting outcomes of resolutions considered at AGMs held by ASX 200 companies in 2017 and highlights emerging corporate governance issues and trends, as well as ASIC’s good corporate governance recommendations in these areas.
Key observations in REP 564 include:
In Regulatory Guide 264 Sell-side research issued late last year
), ASIC has tempered some of the more worrisome proposals from its draft guidance, although the introduction of more oversight and involvement by compliance teams will still create a burden for smaller research providers, and the guidance regarding interactions between research analysts and others interested in capital raisings is very prescriptive.