Updated Investor Relations Guidelines Launched

Image from Unsplash


Australasia’s premier member-based organisation advancing awareness of best practice investor relations recently released updated best practice investor relations guidelines. ARIA released the guide as a tool to help listed entities comply with tougher new corporate laws, stock exchange listing rules and other regulatory practices when dealing with the investment community.

Last updated in 2006, the new Best Practice Investor Relations Guidelines for Australasian Listed Entities covers amendments to the Corporations Act, revised listing rules for entities traded on the Australian Securities Exchange and principles adopted by the ASX Corporate Governance Council in 2007 and 2010.

AIRA CEO Ian Matheson described the guidelines as a “comprehensive template for investor relations professionals so that they understand what investors and regulators expect of them. The revisions take into account best practice on recent contentious issues such as investor briefings and the timely disclosure of information.”

AIRA’s guidelines were initiated by a working party chaired by Mr Matheson and including IR representatives from ANZ, Tower, Suncorp, Telstra, Thomson Reuters, MAp Airports, Bluescope Steel and Brambles.

Guidelines on investor briefings state that no previously undisclosed price sensitive information should be discussed. Such meetings should only provide background and previously disclosed information and to articulate details of long term strategy, organisational history, vision and goals, management philosophy and structure, competitive advantages and risks, industry trends and issues, key profit drivers and economic settings.

It is also recommended that companies keep a record of all meetings and briefings including the time, date and place of meetings, attendance and all topics discussed and whether any disclosure issues arose.

On the issue of timely disclosure of information, AIRA says that material information should be lodged immediately with the ASX/NZX, published on listed entities’ websites, sent by email and/or fax to security holders and other key stakeholders, and issued to major news wire services and other news outlets.

“Given the wide range of circumstances that exist for listed entities, there is a need to operate flexibly and sensibly within the guidelines,” Mr Matheson said. “Ultimately, listed entities retain the prime responsibility for their procedures and processes for reporting to the market.”

For more information or to read the guidelines in full visit www.aira.org.au