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Michael Quilter interviewed regarding disclosure requirements for companies

Created: 08 Apr 2013

Publication: Technology Spectator
Title: Should ASIC consider social media disclosures?
Date: 5 April 2013
Author: Harrison Polites

Excerpt: "The regulator already has its hands full when it comes keeping companies releasing key information in an honest and timely manner, he says citing a recent disclosure spat between ASIC and mining giant Fortescue.

Quilter also contends that such open disclosure rules may be tailored towards stemming the turmoil gripping the US economy. He says that making company announcements more open and visible via social media may work to bolster the US economy and encourage investment. While that may be necessary in the US at the moment, Quilter says that Australia can afford to have tighter, more regulated disclosure rules as it has a stronger economy.

He also suspects that our investment community may be more technologically “conservative” than the US, hinting that a shift to social media disclosures in Australia could see some shareholders miss out on having timely access to important company information altogether."

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