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Treasury plan could end era of shareholder secrecy

Jonathan Shapiro

New rules tabled by Treasury may end the practice used by billionaires like Mike Cannon-Brookes and offshore hedge funds of hiding their influential positions in ASX companies behind secret equity derivatives.

A draft amendment bill will force investors to reveal any derivative exposures they hold in a company, irrespective of whether there is a contractual agreement to exchange the securities for ordinary shares in the future.

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Jonathan Shapiro writes about banking and finance, specialising in hedge funds, corporate debt, private equity and investment banking. He is based in Sydney. Connect with Jonathan on Twitter. Email Jonathan at jonathan.shapiro@afr.com

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    Original URL: https://www.afr.com/markets/equity-markets/treasury-plan-could-end-era-of-shareholder-secrecy-20241126-p5ktn7