asic.gov.au

Crackdown on financial products

THE corporate watchdog has flagged a crackdown on complex financial products that could breach the spirit of the law.

The Australian Securities and Investments Commission (ASIC) is chairing a global push to crack down on risky products which can potentially be used to get around takeover regulations.

ASIC is concerned about derivative products, such as contracts for difference, which are retailed widely in Australia.

A common form of these products allows investors to bet on a share price to fall, even without putting down money upfront.

As part of the bigger picture, such derivatives can help facilitate major deals that could involve billions of dollars in proposals which can be made without proper financing.

Read more at ABC news online.



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