On 29 May 2018, the Foreign Investment Review Board (FIRB) released its Annual Report for the year ending 30 June 2017, finding that Australia remains an attractive destination for foreign investment despite a significant reduction in the number and value of residential real estate applications.
On 29 January 2018, ASIC published its overview of the 2017 annual general meeting (AGM) season, concluding that the latest AGM season was “significantly less tumultuous” than previous years.
Earlier this month, ASIC issued the first licences to crowd-sourced equity funding (CSF) intermediaries, enabling public unlisted companies to launch CSF campaigns via their platforms. Already, the first crowdfunds have begun to go live, with one raising $500,000 in less than a day. The next step is for CSF to be extended to private companies, which is expected to come into effect from the middle of this year.
Put yourself in these shoes… You think your CFO boss is feeding false information to the company auditors to cover up accounting irregularities in the company financials. What would you do? Who should you tell? What protections are you entitled to receive?