From an article in The Age this morning by Ian McIlwraith
Some companies and others in the market did not realise that continuous disclosure rules, and an accompanying Australian Securities Exchange guidance note, imposed obligations on companies to tell the market of changes in expectations. These obligations apply not just when a company becomes aware of a change, but also when the average of analysts' forecasts of a likely performance was substantially out of step with internal expectations. For companies this raises the thorny question of whether they should privately tell an analyst to change their estimates, and why or whether they should make a public statement to update everyone in the market and hope the analyst will fall into line.
