ASIC response: DJs board will be on defensive as perceived conflicts flare up

Response to Sydney Morning Herald article, 'DJs board will be on defensive as perceived conflicts flare up’ by Adele Ferguson, page 23

4 February 2014
Letters to editor
'Sydney Morning Herald'
Delivery by email: letters@smh.com.au

Adele Ferguson’s piece in the Sydney Morning Herald-The AGE today ('DJs board will be on defensive as perceived conflicts flare up’, February 4) needs clarification.

The column says David Jones director Philippa Stone is part of ASIC’s equity offerings liaison committee. This committee has not operated for many years. Instead, ASIC now holds regular Corporate Finance Liaison Meetings. All legal practitioners practising in this area are welcome to attend these meetings.

All ASIC’s external committees and panels are listed in ASIC’s 2012–13 Annual report on page 144.

The column also refers to Peter Mason's son working at ASIC. This is true, and, as Ms Ferguson acknowledges, Mr Mason's son had nothing to do with the DJ's investigation.
As the public would expect, ASIC has in place robust conflict management processes.

John Price, Commissioner, Australian Securities and Investments Commission
This letter was not published