Frydenberg should put interests of investors before company directors

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Editorial: Two new laws will make it harder for superannuation investors to get accurate information about what company bosses are doing with their money

The 15 million Australians with superannuation accounts need to know that they can trust the integrity of the sharemarket.

Nuix was a market darling for a few months, with its shares hitting $11.86 in late January – more than double the float’s $5.31 offer price. But in April, revenue forecasts contained in the prospectus provided to investors before the float were downgraded. The stock closed at $3.41 on Thursday. Mr Frydenberg has issued a discussion paper which suggests that proxy advisers should have to provide their advice in advance to the companies they are covering and include the companies’ comments in their reports. The paper also suggests the super funds who own proxy advisers could be subject to ownership restrictions. Mr Frydenberg says he wants more “transparency” and “engagement” between the advisers and their target companies.

 

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OMgovernance From John Open questions for Ownership Matters and Dean Paatsch OM claim “zero harm”, yet, its reckless Sep 2019 report on $ISX triggered a selloff of more than $800m over several days which destroyed shareholder value – especially mum and dad investors

OMgovernance 'accurate information'...anything but.Manipulation yes!We DO NOT need so called investigative work to enrich a few at the detriment of the majority.Clean out is needed or Australia will see good companies move to other markets.

All part of the LNP's 'grand ideological plan'. As for a plan to roll-out the vaccine, fuck that. 🙄😠

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