'Wholesale investor/client tests' - public submissions requested
May 06, 2024
On March 20, 2023, the Parliamentary Joint Committee on Corporations and Financial Services began investigating the wholesale investor test for securities offers (Section 708 of Chapter 6D of the Corporations Act 2001) and the wholesale client test for financial products and services (Sections 761G & 761GA of Chapter 7 of the Act), collectively referred to as the 'wholesale investor/client tests.'
The committee has requested written submissions by May 15, 2024. They are open to receiving public submissions, which will be published on the inquiry website along with the submitter's name, as well as confidential submissions where the submitter's name is withheld.
Additional information to assist in preparing submissions is available via the link below. The committee aims to present its findings to the Parliament by the end of 2024.
ACTION FOR LICENSEES
Action is not mandatory, however, public submissions are welcome in accordance with guidance in the link below.
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