Individual Submission
13 Dec 2024
Respondent
Individual Submission
...
Automated Transcription
12 December 2024 - Individual Submission
Entities use loopholes in the current regulation to mask their true ownership in listed companies.
An example would be a 10% holder of a common stock in an ASX-listed entity can lower their exposure by entering into swap agreements.
Their true exposure might be 5% but disclosure rules in their current form do not require this to be disclosed.
If you're not willing to close these open loopholes you may as well scrap the entire disclosure rules. The only entities that can access swaps are sophisticated entities such as hedge funds. Why do we have to play by the rules and not them?
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