Inquiry into Class Action Proceedings and Third-Party Litigation Funders

In this submission the AICD indicated its strong support for the proposed review of the legal and economic impact of continuous disclosure obligations and provisions relating to misleading or deceptive conduct on listed entities, particularly in the context of their interaction with Australia’s class actions market. The AICD also reiterated its strong support for the introduction of appropriate licensing regime for litigation funders, and indicated its in-principle support for the establishment of an alternative to class action litigation through a federal collective redress scheme.