Companies

Dec 14, 2012

Back to school for investors: ASIC’s exam for ‘complex’ buys

ASIC wants you to take an exam before you can invest in what it calls complex financial products. Experts worry it could push the cost of playing markets higher.

Investors would be required to pass an online exam before investing in complex or risky products under a proposal by Greg Medcraft, the chairman of the Australian Securities and Investments Commission. Will it send the cost of playing the markets game higher?

Medcraft told The Australian Financial Review he believes existing disclosure documents are no longer effective and new technology and innovative approaches are needed to protect investors.

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2 comments

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2 thoughts on “Back to school for investors: ASIC’s exam for ‘complex’ buys

  1. john2066

    Typical stupid asic overregulation. They do nothing to catch crooks, but waste everyones time with more and more pettifogging rubbish forms and paperwork. The best way to improve financial markets in australia is to close asic down.

  2. MacKinnon Jenny

    This has got to be the dumbest idea I have seen in a long time – and I support regulation of all kinds of things. This system would just get gamed and create a whole new black market of bs.

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