Directors pressured to show their margins
Asciano is the first company to disclose the margin loan positions of its executives following a reminder of disclosure obligations from the Australian Securities Exchange on Friday. The ASX said that directors are required to advise their company of any margin loans over shares in their company which must then decide whether the loans could affect their share price and must be disclosed to the market. The chairman of the Australian Institute of Company Directors, John Story, said that if the size of the shareholding is large and heavily leveraged then it should be disclosed, but this was ultimately a matter for each board to decide and so was a grey area.
Source: The Australian Financial Review