Enforcement of Continuous Disclosure : The Use of Infringement Notice and Alternative Sanctions

This article briefly looks at the sanctions available to ASIC in relation to breaches of the continuous disclosure provisions. The Commonwealth Treasury has issued a consultation paper in March 2007 on infringement notices and their application to the continuous disclosure regime. This article concentrates on the provisions of infringement notices and takes into consideration the reasons behind the introduction of infringement notices and their effectiveness in the continuous disclosure area. The article also assesses the impact of infringement notices by comparing this sanction to the sanction of enforceable undertakings also available to ASIC and comparable sanctions in the United Kingdom