Aus lawyers welcome retail bond reforms

Author: | Published: 5 Jan 2012

Australian lawyers have welcomed the Treasury’s discussion paper on the development of the country’s retail corporate bond market. But the possible removal of authorised deposit-taking institutions’ (ADIs) disclosure exemption has caused concern.

Released on December 13, the discussion paper seeks to streamline disclosure requirements to kick-start Australia’s misfiring retail corporate bond market. 

Jason Elphick, general counsel for capital and funding and the head of governance at National Australia Bank (NAB) in Melbourne said the changes are welcome given the potential growth of corporate bond issues in the current environment.

"With credit growth moderating, the development of a strong domestic corporate bond market is a logical step," said Elphick. "Any initiative to help the operation of that market would be more than welcome."