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ARTICLE · 13 MAY 2013

New ASX Listing Rules And Guidance Note On Continuous Disclosure – Implications For D&O Insurers

Clyde & Co
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The Australian Stock Exchange Listing Rules 3.1, 3.1A and 3.1B, and Guidance Note 8 concerning continuous disclosure obligations came into effect on 1 May 2013.

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Dean Carrigan
Dean Carrigan
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The Australian Stock Exchange (ASX) Listing Rules 3.1, 3.1A and 3.1B, and Guidance Note 8 (GN8) concerning continuous disclosure obligations came into effect on 1 May 2013.

Although the market has welcomed the revised Listing Rules and GN8, the ASX has made recommendations and suggestions in GN8 which increase the responsibilities of directors and officers.  It follows that directors and officers may face increased legal exposure, which will in turn increase the exposure of directors and officers liability (D&O) insurers under D&O insurance policies.

Background

ASX listed entities have been requesting additional and improved continuous disclosure guidance from ASX for many years.  The last change to GN8 was in June 2005.

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