ASIC consults on securities lending

ASIC has released a consultation paper on disclosure of substantial holdings arising from securities lending or prime broking.

The consultation paper, Securities lending and substantial holding disclosure, seeks to improve disclosure of substantial holdings in practice and makes it clear that securities lending transactions and prime broking arrangements need to be taken into account in calculating a substantial holding.

Submissions on the proposals contained in the Consultation Paper close on 7 August 2009.