We recently wrote a blog post on our belief that the current Australian system for how board members and management teams can trade is currently flawed. We have previously proposed that Australia follows the more efficient and effective model of the US, whereby ‘insiders’ can establish written trading plans when they are not in possession of market sensitive information and these plans are executed on an automated and scheduled basis (even if the ‘insiders’ are in possesion of sensitive information at the time the trade is executed). We have seen first hand the material impact the current Austrlalian regulations are having.
Today, in the Australian Financial Review, a who’s who of Australian technology founders joined us in lobbying for change – Mike Cannon-Brookes, Richard White and Leigh Jasper all weighed in with thoughtful insights into their own experiences. We will continue to work closely with them to ensure that this change occurs and Australian investors have the best possible regulatory environment.