UDIA welcomes the opportunity to comment wholesale investor test for offers of securities (Section 708 of Chapter 6D of the Corporations Act 2001) and the wholesale client test for financial products and services (Sections 761G & 761GA of Chapter 7 of the Act) (referred to collectively as ‘the wholesale investor/client tests’).
We have made broader comment regarding wholesale investment in the context of the original Treasury review of the regulatory framework for managed investment schemes (“the MIS”). The broader discussion of MIS rules, gives context to the wholesale investment comments.
UDIA National supported the review of the MIS regulatory regime being undertaken by Treasury and outlines below some comments on aspects of the review that touch upon our industry as related to this inquiry.
Our full submission can be found at the download button below.