The new continuous disclosure regime in Australia marks a significant shift in the regulatory landscape for listed companies. Effective as of May 2021, the amendments to the Corporations Act 2001 introduced a fault element to the continuous disclosure obligations.
The amendment, which establishes a fault element in civil penalties and private action, is aligned with recommendations from the Parliamentary Joint Committee on Corporations and Financial Services after its inquiry into litigation funding and the regulation of class actions.
For investors and other market participants, this change means that the information they receive is more likely to be significant and relevant, enhancing market transparency. However, it also places greater responsibility on investors to scrutinize the disclosures they receive and understand the context behind them
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