@Branded and @zeebot and anyone else.I have encouraged everyone...

@Branded and @zeebot and anyone else.

I have encouraged everyone to read the ASX rules on insider trading over many many months. What @zeebot has posted is simply a warning to ASX listed companies that they must have in place a policy under the law.

The policy however does not become a law because it is a policy and can be changed by the Board at any Board meeting as it does not require a vote of shareholders. You all have no doubt experienced in companies you have worked for policies about all types of things down to mufti Fridays and what is acceptable attire.

The following document is actually the ASX's own policy document based upon its own interpretation of how a company should properly conduct itself and how insider trading is to be managed.

Reading it will give you an idea of the complexity of this issue because when a Board member or a key employee such as a CEO sells shares it is always at law "Insider Trading" but it is recognised that a complete bar on selling under any circumstances will not work so they have guidelines and policies which if followed and acted upon in a reasonable fashion then your sale of shares will not be prosecuted to the full extent of the criminal law.

A police officer at common law has a discretion not to charge every single person he discovers committing a criminal offence and so to does the ASX.

Anyway the following is a worthwhile read and it is likely that as the ASX has published its own policy that most ASX listed entities have drawn their policy document in very similar terms so as to be easily seem as properly applying the requirements of the ASX in this regard:

https://www.asx.com.au/documents/about/Dealing-Rules.pdf

My opinion only DYOR
FF

AKIDA Ballista