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ARTICLE · 20 JUNE 2007

Possible Changes To Underwriter´s Exemption

Gadens Lawyers
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Recently, the Treasury issued a position and consultation paper titled 'Insider Trading', which sought public comments on how the government should deal legislatively with recommendations made by the Corporations and Markets Advisory Committee (CAMAC) in its 2003 report on insider trading.

AustraliaCorporate/Commercial Law
Karin Schwartz
Karin Schwartz

Recently, the Treasury issued a position and consultation paper titled 'Insider Trading', which sought public comments on how the government should deal legislatively with recommendations made by the Corporations and Markets Advisory Committee (CAMAC) in its 2003 report on insider trading.

While section 1043A Corporations Act 2001 (Cth) (Corporations Act) prohibits the disposal of securities or managed investment products which would result in insider trading, section 1043C Corporations Act acts as an exemption for underwriters who are disposing of securities or managed investment products which were acquired under an underwriting agreement. There are currently no restrictions as to who such financial products can be sold.

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