Tuesday 30 October 2007 LAWFUEL – The Australia & New Zealand Legal Newswire – The Australian Securities and Investments Commission (ASIC) has released two regulatory guides updating our policy on independent expert reports.
These are Regulatory Guide 111 Content of expert reports [RG 111] and Regulatory Guide 112 Independence of experts [RG 112]. While ASIC has seen an improvement in the overall quality of expert reports in recent years, concerns remain that they are too long. The updated regulatory guides address this issue as well as perceptions that some expert reports are not sufficiently independent.
ASIC consulted widely with experts following the publication of its policy proposal paper – Better experts’ reports. ASIC will continue to work with experts to improve the clarity of expert reports for retail investors. [RG 111] and [RG 112] are available from the ASIC website at www.asic.gov.au. For further information contact: Danielle Huck ASIC Media Unit Telephone: 03 9280 3407 Mobile: 0417 540 769