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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David Woodall
CHIEF EXECUTIVE OFFICER, SUPERANNUATION
INSIGNIA FINANCIAL LTD
INSIGNIA FINANCIAL LTD
Facing his greatest test yet in metamorphosing MLC Super, Dave Woodall is adamant the juice will be worth the squeeze. Jamie Williamson 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.