The attached link is worth a read, it is about stop orders rather than disclosure, it is a bit old but gives an insight into ASIC policy.
Also how would the ASX know that a company is lax on it's disclosure unless someone tells them, I doubt they could collate all the information on all listed companies. They would have the same opinion as ASIC, they are not concerned with the reasons for ???? only concerned that compliance is in order
I once read that ASX or ASIC do monitor some message boards, I cannot remember if it was ASX or ASIC
ASIC Quote re CR's -"What we're looking for
Contrary to some public perceptions, we don't..............nor do we pronounce judgment on the merits of a particular business enterprise. Instead, we aim to ensure that the prospectus has adequate information so that investors themselves can decide on the merits of investing in the company.
To illustrate, we would not stop a fundraising to develop a business making concrete life jackets, provided the company's disclosure about the risks and prospects, etc complies with the law.
What we do is review a number of selected prospectuses to ensure the disclosure is adequate. Prospectuses are selected using risk criteria developed from our experiences in this area." ((They also rely on the public to complain))
