Listen to the statement by the ASIC chief, Greg Medcraft, at the 21 second point in this video broadcast.
Medcraft comments on what ASIC sees as the fundamental legal responsibilities of company directors.
This statement was made by ASIC, after the recent Australian High Court, ruled that Jamies Hardie directors DID mislead shareholders with their announcements.
Directors are now more responsible than ever, for what they say and report in ASX company announcements and reports, and the highest courts in the land, have now confirmed, that they WILL hold them accountable.
(Note: You may have to click "Play Video (Flash Broadband)" above the video white space to initiate the broadcast).
