Team 11 – Case Study 1.5
David Tran- 10410768
Phoebe Tucker- 20687175
Peilin Wang- 20559488
ASIC – The main role of ASIC is to regulate Australia’s corporate markets and financial services. * Ensures that financial markets are fair, transparent and is supported by informed investors. The main priorities of ASIC include – protecting retail investors * Building confidence in Australia’s capital markets
* Facilitate international capital flows
* Manage the implications of global financial turmoil
* Improve services
ASIC regulates: Australian companies and financial service organizations, assesses how financial markets are complying with legal obligations
Tips given to shareholders when reading a prospectus:
-Whether the shares and this company suit your investment needs. - Are the shares being offered at a reasonable price? Compare data with data for other companies in the same industry - Understand the industry
- Understand the business
- Do these shares fit into your investment strategy?
- Understand why the company is listing. Why is it trying to raise money? - Make sure you are satisfied with the experience of the management.
Policy Statements and Practice Notes
Policy statements and practice notes are now known as regulatory guides. ASIC has over 160 regulatory guides. Some of these include: -Guides to unit pricing, which talks about some of the ways in which to go about pricing, the obligations involved and issues relevant to management and consumers. - Guides on Audit relief, which explains some of the benefits and costs, associated with this, ASIC requirements for giving audit relief and procedures to obtain individual audit relief. - Guides on Fundraising: Discretionary Powers. This looks at the obligations for disclosure for unregistered managed investment schemes, exemptions and the underlying principles.
* There are concerns regarding the way ‘Motor Finance Wizard’...
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