Cyber squatters under threat

THE Australian Securities and Investments Commission has

released an issues paper seeking comments on multi-media prospectuses and other offer documents.

The paper examines developments in electronic communication between companies wanting to issue new securities to potential investors.

It highlights challenges for ASIC in its future regulation of corporations and securities laws.

ASIC commissioner Jillian Segal said the commission was

developing many e-commerce initiatives.

“We are seeking to facilitate the use by business of new

technology without them falling foul of the corporations law,” Ms Segal said.

“Increasingly, people who issue prospectuses want to use the full potential of multimedia, particularly providing information to investors visually as well as in words.

“Regulators like the ASIC need to explore what this means for

the way we administer the law, and we have prepared the issues paper to stimulate discussion.”