ncm in the $10's!, page-24

Analysts face Newcrest scrutiny
8 hours ago
IndustriesFinancial ServicesResources and Energy
As part of its probe into potential selective briefings by Newcrest Mining Ltd, the corporate regulator is seeking meetings with analysts and their research desk bosses at broking houses who cover Newcrest, according to The Australian Financial Review.

The Australian Securities and Investments Commission (ASIC) is investigating the period leading-up to Newcrest's June 7 disclosure of a major profit downgrade.

Prior to the announcement, brokers at six banks downgraded their Newcrest earnings estimates.

Newcrest has denied making any selective analyst briefings, though it has not denied that any analyst meetings took place.

The AFR reported that any analysts found to have obtained insider information could be prosecuted for sharing the information with fund managers who made use of the information in their trading.