Keynote address by Jeremy Cooper, Deputy Chairman, ASIC, to International Class Actions Conference 2005, 2 December 2005.
Introduction
The scope of this paper is to examine ASIC's role in taking enforcement action in the same landscape in which shareholder class actions are likely to occur. The typical scenario will be a listed company that has collapsed or suffered a serious diminution in value following a capital raising under a regulated disclosure document where there is some suggestion of wrongdoing. There are, of course, many variations on that scenario.
We will look at these issues, bearing in mind ASIC's role as a 'conduct and disclosure' regulator, across a very broad territory and with relatively limited resources.