No change to wholesale client test thresholds

by

Ed.

From hallandwilcox.com.au: The Parliamentary Joint Committee on Corporations and Financial Services has decided not to raise the financial thresholds for wholesale investor and client tests under the Corporations Act 2001, citing a lack of evidence for increased systemic harm.

Instead, the Committee recommended establishing a mechanism for periodic review of the tests and addressing concerns regarding the subjective nature of the sophisticated investor test.

Filed under: ASIC, Professional Practice

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