Australia: Reforms May Help ASIC Crack Down on ‘Rumourtrage’

In Australia, those engaged in ‘‘rumourtrage’’ or the spreading of rumors to affect share prices could be in for greater penalties if the federal government takes up a recommendation. AAP reports that the Parliamentary Joint Committee on Corporations and Financial Services has told the government to consider reforming the Corporations Act to provide ASIC more power to deal with rumourtrage, which has evolved as a new challenge for the corporate regulator.

AAP: ASIC sets its sights on ‘rumourtrage’.