Australia Plans 'Market Turmoil Response'

Law360, New York (August 8, 2008, 12:00 AM EDT) -- Hoping to limit the damage caused by the global liquidity crisis, Australian securities regulators have unveiled a plan to heighten surveillance of credit ratings agencies, activist hedge funds and market manipulation.

The plan, released by the Australian Securities and Investments Commission on Thursday, outlines the top five market issues that the agency plans to focus on over the next few months. ASIC Commissioner Belinda Gibson told the Investment and Financial Services Association annual conference that the plan, referred to as a “market turmoil response,” would focus...
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