Consultation paper 257 Improving disclosure of historical financial information in prospectuses: Updated to RG 228

The AICD was generally supportive of the Consultation Paper proposals and we welcomed the efforts of ASIC to provide general guidance when exercising its discretion. However, we also encouraged ASIC to continue to apply its discretion along with the ASX, even if not covered in the general guidance outlined in the Consultation Paper, to ensure that they do not impede the growth of innovative businesses in Australia.