ASIC champion hybrid name changeBY LINDA HAUSKEN | FRIDAY, 12 OCT 2012 11:20AMAustralian Securities & Investments Commission is pushing for the industry to use the label 'capital note' instead of 'hybrid securities', as part of its ongoing focus on misleading and deceptive advertising. |
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Phil Usher
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FIRST NATIONS FOUNDATION
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Taking a gamble to steady the ship as chief executive of First Nations Foundation, Phil Usher has turned it into a more secure, self sustaining entity, far better equipped to empower First Nations people to achieve financial prosperity. Andrew McKean writes.
I agree with ASIC on this one. The term "Hybrid" is misleading and we've all seen commentary bagging it (some of it from people not qualified to comment; who've simply recycled it). Some so-called "Hybrids" are pure debt and suitable for those unable to access direct corporate unlisted bonds. The latter matter is well past the consideration phase for wrap account providers who should by now be able to access the relevant providers' on-line resources.