From www.investmentlawwatch.com: The Parliamentary Joint Committee on Corporations and Financial Services in Australia has released a report stating that there should be no increases to the wholesale client test thresholds established in the Corporations Act 2001.

The Committee recommended the government consider a mechanism for periodic reviews of the wholesale investor tests, alongside amending the legislation to replace subjective elements with objective criteria related to investor knowledge and experience.

Despite some advocacy for higher thresholds by stakeholders like the Australian Securities and Investments Commission, the Committee found insufficient justification for any increases at this time.