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1.Market Observations, 8.Was Sticky

9 Mar 2017 (AFR) – Public slap-downs from ASIC for companies with inflated asset valuations

(9 March 2017, AFR, p16, by Myriam Robin)

‘Companies handed a “please explain” by the corporate cop are finding their dealings with the financial regulator being made public, as the regulator cracks down on unrealistic asset valuations. The Australian Securities and Investments Commission has since last year been making public its dealings with companies whose accounts it audits and finds wanting. In the February earnings season, ASIC issued statements revealing its role in encouraging write-downs at MMA Offshore, Spotless, Pacific Star Network, Nine Entertainment and Seven West Media.’

Read more at AFR.com (might need AFR login access, or try: AFR.com/trial)

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