The latest NSW ICAC report imposes an impossible due diligence standard on investors
John Robertson
PortfolioDirect
The latest NSW ICAC report imposes an impossible due diligence standard on investors. According to the counsel advising ICAC We would not go so far as to describe Mr Macdonald's decision to grant the exploration licence to DCM as so unreasonable that no reasonable decision-maker could have so decided ..... nor does it suffice to make out .... that a minister acted contrary to the advice, however considered and cogent, of his or her public servant advisers ..... Counsel also says .... the evidence was insufficient to demonstrate that any of Messrs Maitland, Ransley or Poole were actually aware that Mr Macdonald was proposing to act with partiality. ICAC is saying investors should have delved more deeply than the inferences to be drawn from these conclusions. If their due diligence did not extend beyond this, they should incur the consequences. Totally impractical.
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John Robertson is Chief Investment Strategist for PortfolioDirect a provider of resource sector investment stock ratings and portfolio strategies for mining and oil and gas investors. He has worked as a policy economist, corporate business strategist and investment market professional for over 30 years after starting his career as a Commonwealth Treasury economist in Canberra. Since being Australia's top-rated commodities analyst and chief economist at one of Australia' leading stockbroking firms, he has advised companies across the mining, consumer products, IT and biotech sectors on their equity market relations. He leads the firm's investment evaluation and security structuring activities on behalf of the Australian Small Scale Offerings Board (ASSOB), the world's first equity 'crowdfunding' investment platform. John Robertson discusses the interaction of mining and investment markets in his weekly 'From the Capital' column in Mining Journal.
John Robertson
PortfolioDirect
John Robertson is Chief Investment Strategist for PortfolioDirect a provider of resource sector investment stock ratings and portfolio strategies for mining and oil and gas investors. He has worked as a policy economist, corporate business...
Expertise
No areas of expertise
John Robertson
PortfolioDirect
John Robertson is Chief Investment Strategist for PortfolioDirect a provider of resource sector investment stock ratings and portfolio strategies for mining and oil and gas investors. He has worked as a policy economist, corporate business...
Expertise
No areas of expertise
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