Investment in Australia that will be crucial to recovering from the coronavirus crisis could be put at risk because the treasurer, Josh Frydenberg, has watered down laws requiring company directors to keep the market properly informed, say advisers to funds controlling trillions of dollars.
In a seven-paragraph press release issued late on Monday afternoon, Frydenberg said the change would protect companies from “opportunistic class actions” during the coronavirus crisis and allow them to raise much-needed capital. But experts say there is no evidence any such problem exists.
‘Enforcement 40’ for 2020
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