Australia's corporate watchdog defends actions over Nuix IPO

FILE PHOTO: The logo of software company Nuix can be seen in their office located in central Sydney, Australia, April 5, 2016. REUTERS/David Gray/File Photo

SYDNEY (Reuters) - Australia's corporate regulator on Friday defended its actions in allowing the initial public offering of Macquarie Group-backed software provider Nuix last year, despite a law firm flagging concerns with its prospectus.

Australian Securities and Investments Commission (ASIC) executives told lawmakers accusing it of not undertaking proper due diligence even after issues with the prospectus were raised, that the prospectus contents and disclosures were not its responsibility but that of company directors.