ASIC warning about overseas investment
Posted
by DPS
Australian Securities and Investments Commission (ASIC) has issued a warning to Australians about investing in offshore financial products that do not comply with local requirements.
The warning follows recent advertisements in the Australian media by a New Zealand company, Asset Finance Ltd, which offered high returns for debenture stocks.
As a prospectus was not lodged with ASIC this offer did not comply with Australian disclosure requirements and such investments may not be protected by Australian law.
