The corporate regulator needs additional powers to investigate suspicious sharemarket trading and 'rumourtrage' as soon as it's detected, according to Janet Austin from the Australian School of Business at UNSW.
The Federal Government is currently examining what changes are required to Australia's regulatory framework to tackle concerns that some market participants are engaging in 'rumourtrage' - the spreading of false or misleading information about companies to profit from changes in share prices.
In an opinion piece published in the Australian Financial Review, Austin writes that the Federal Government must give ASIC additional powers to gather evidence to prosecute offenders, such as the power to seek warrants to intercept telephones and internet communications.
Janet Austin's full opinion piece is available here.
Media Contact: Marie Kelly | 9385 5895 | email@example.com