The Poseidon bubble was a stock market bubble in which the price of Australian mining shares soared in late 1969, then crashed in early 1970. It was triggered by the discovery by Poseidon Nickel of the early indications of a promising nickel deposit in September 1969. In 1974, the Rae Committee handed down its report on the Poseidon bubble, which documented numerous cases of improper trade practices. It recommended a number of changes to the regulation of stock markets, which ultimately led to Australia's national companies and securities legislation.