The Takeovers Panel Signs MOU with ASIC [20/08/2001] The Takeovers Panel

Monday 20 August 2001

THE TAKEOVERS PANEL SIGNS MOU WITH ASIC

The Corporations and Securities Panel announced today that it has entered into a Memorandum of Understanding with the Australian Securities and Investments Commission (ASIC). The MOU is intended to continue the positive and cooperative working relationship that the Panel already has with ASIC, and to ensure that the market sees a smooth and seamless relationship between the two regulators.

The President of the Panel, Mr Simon McKeon, said that he was very pleased that the two regulators had formalised their already good working relationships. He said that the two regulators' complementary activities in the takeovers area made it essential, for market certainty and efficiency, that they work together harmoniously.

The MOU addresses such matters as the exchange of information between ASIC and the Panel where either of the agencies becomes aware of matters relevant to the other's operations, as well as the role ASIC plays in hearings before the Panel.

Mr McKeon said that the Panel and ASIC had already demonstrated the benefits of co-operation at an operational level and he looked forward to the MOU facilitating that in the future.

Nigel Morris
Director, Corporations and Securities Panel
Level 47 Nauru House,
80 Collins Street,
Melbourne VIC 3000
Ph: +61 3 9655 3501
nigel.morris@takeovers.gov.au

Simon McKeon
President, Corporations and Securities Panel
Level 23,
101 Collins Street,
Melbourne VIC 3000
Ph: +61 3 9635 8100