Activist short selling is so easy to prove. Short Sales have to...

Activist short selling is so easy to prove. Short Sales have to be reported. Once ASIC gets involved, they may make an example of you.

So anyone short selling, or even if you are not a short seller ,anyone making false claims, with no basis, with a view to manipulating the SP of a stock, or with a view to denigrating a company with a motive for revenge or any other purpose should look out. Fines are up to $1 mill. So be careful out there (red print and all) Quite far reaching provisions. I could see the CEO of AMP laying a broad complaint if she feels that her efforts to boost the SP are not working as much as she wants.

False or misleading statements and misleading or deceptive conduct Under section 1041E
a person must not (whether in Australia or elsewhere) make a statement, or disseminate information, that is false in a material particular or is materially misleading, and the statement or information is likely to: induce persons in Australia to buy or sell financial products, or have the effect of increasing, reducing, maintaining or stabilising the price for trading in financial products on a financial market operated in Australia. This applies whether or not the person knows, or ought reasonably to have known, that the statement or information is materially false or misleading. They must also not otherwise engage in conduct, in relation to a financial product or a financial service, that is misleading or deceptive or is likely to mislead or deceive: see section 1041H.