New ASX Listing Rules requiring a listed company to have a trading policy that complies with ASX listing rules 12.9, 12.10 and 12.12 come into force on 1 January 2011.

The ASX has published a Guidance Note to assist listed entities to comply with their obligations.

Listing rule 12.12 includes a requirement that an entity’s trading policy specify fixed periods when its key management personnel are prohibited from trading in the entity’s securities.