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Continuous disclosure suspension welcome

"Ai Group welcomes reports that the Treasurer will suspend Australia's continuous disclosure requirements for six months," Innes Willox, Chief Executive of the national employer association Ai Group, said today.

"Ai Group has previously supported the Australian Institute of Company Directors' calls for such a suspension during the current period of extreme volatility and uncertainty.

"For companies, providing earnings guidance and forward-looking information about their performance that does not infringe Australia's strict disclosure rules presents managers and company Boards with an extremely difficult task at this time. Their attention needs to be on dealing with the immediate threats facing their businesses and the planning needed to navigate the challenges of recovery and rebuilding.

"The suspension will also protect businesses against speculative class actions alleging breaches of continuous disclosure laws," Mr Willox said.

Media enquiries: Tony Melville – 0419 190 347