In July 2016 ASIC (the Australian Securities and Investments Commission) published a report of the key findings of its review into the due diligence practices undertaken by issuers as part of their initial public offerings, and ASIC’s findings make for particularly interesting reading.
‘Due diligence’ is the name given to the process undertaken to identify and confirm the material information in respect of an issuer that is required to be disclosed in the offer documents prepared in connection with an IPO. While the process itself is not statutorily...
