ASIC’s new Regulatory Guide 253 Fundraising: Facilitating offers of CHESS Depository Interests (CDIs) provides guidance about the application of Australian prospectus and financial services licensing requirements in connection with offers of CDIs over securities of a foreign company.  New Class Order [CO 14/827] Offers of CHESS Depository Interests also modifies the Corporations Act 2001 (Cth) to ensure that the law now reflects market practice for disclosure of CDI offerings and confirms that ASIC’s existing disclosure relief applies in respect of CDIs.

For further information, see G+T Alert on 15 October 2014.