Book contents
- Frontmatter
- Contents
- Contributors
- Table of cases
- Table of statutes
- Preface
- Preface to the first edition
- PART ONE BASIC CONCEPTS, BOARD STRUCTURES AND COMPANY OFFICERS
- PART TWO CORPORATE GOVERNANCE IN AUSTRALIA
- 5 Corporate governance in Australia – background and business initiatives
- 6 Regulation of corporate governance
- 7 The role of the regulators: ASIC and ASX
- 8 Accounting governance
- 9 Auditors and audits
- 10 Directors' duties and liability
- 11 Enforcement of directors' duties
- PART THREE CORPORATE GOVERNANCE IN INTERNATIONAL AND GLOBAL CONTEXTS
- PART FOUR BUSINESS ETHICS AND FUTURE DIRECTION
- Index
7 - The role of the regulators: ASIC and ASX
from PART TWO - CORPORATE GOVERNANCE IN AUSTRALIA
Published online by Cambridge University Press: 05 June 2012
- Frontmatter
- Contents
- Contributors
- Table of cases
- Table of statutes
- Preface
- Preface to the first edition
- PART ONE BASIC CONCEPTS, BOARD STRUCTURES AND COMPANY OFFICERS
- PART TWO CORPORATE GOVERNANCE IN AUSTRALIA
- 5 Corporate governance in Australia – background and business initiatives
- 6 Regulation of corporate governance
- 7 The role of the regulators: ASIC and ASX
- 8 Accounting governance
- 9 Auditors and audits
- 10 Directors' duties and liability
- 11 Enforcement of directors' duties
- PART THREE CORPORATE GOVERNANCE IN INTERNATIONAL AND GLOBAL CONTEXTS
- PART FOUR BUSINESS ETHICS AND FUTURE DIRECTION
- Index
Summary
[HIH Insurance Ltd's collapse] is a tale of scoundrels – crooks even, who jockey and grasp and concoct the most ingenious ways to pocket HIH's cash while they still can. Well-placed mates help well-placed mates … Mortgages are forgiven, bonuses awarded, dodgy invoices are fast-tracked and cheques are somehow cleared after the banks have closed. But policy-holders get nothing because that is the new policy, and shareholders might as well not exist.
The Australian, Wednesday, 15 January 2003Directors of Australian public companies have a dual challenge in seeking to navigate their companies through the heavy seas of the global financial services. They must set strategies to deliver long-term profitable performance in a manner that responds to the difficult circumstances. And they must ensure conformance by their companies and themselves with all applicable legal and regulatory requirements. Hard economic times are enhancing the challenge to directors in both their performance and conformance roles.
Robert Austin and Aaron Rathmell, An Introduction to the Conference Theme, Directors in Troubled Times (R P Austin and A Y Bilski, eds, Ross Parsons Centre of Commercial, Corporate and Taxation Law Monograph 7, Sydney, 2009) at 22Introduction
This chapter highlights the role and relationship between the twin regulators, the Australian Securities and Investments Commission (ASIC) and the Australian Securities Exchange (ASX) in the Australian corporate governance regime. The exercise of ASIC's powers are reviewed and enforcement patterns are commented upon.
- Type
- Chapter
- Information
- Principles of Contemporary Corporate Governance , pp. 179 - 197Publisher: Cambridge University PressPrint publication year: 2010