Marketing practices in initial public offerings (IPO) of securities Report 494

From Report 494 Marketing practices in initial public offerings of securities September 2016. The report outlines the key findings from reviews we conducted by ASIC to examine how initial public offerings (IPOs) are marketed to retail investors. ASIC particularly considered the extent to which social media has become important for marketing. The report identifies some risks and recommendations that may be […]

04, 25, 2014
Comments Off on What is an Omnibus Account?

By whiggs

Fundraising (Chapter 6D)

What is an Omnibus Account?

What are some of the key issues relating to securities held by an account provider on behalf of several investors in a single account? The single account in this case is called an “omnibus account”. In practice, client assets are typically held through an omnibus account in the name of the custodian or its nominee, […]

04, 20, 2014
Comments Off on Legal Principles Governing Pre-Contractual Statements – will they be Promissory or Representational?

By whiggs

Fundraising (Chapter 6D)

Legal Principles Governing Pre-Contractual Statements – will they be Promissory or Representational?

Authorities on whether pre-contractual statements are promissory or representational A statement may be on a matter of importance upon which the representee was intended to and did rely without being promissory: J J Savage & Sons Pty Ltd v Blakney [1970] HCA 6; (1970) 119 CLR 435. In that case, the vendor of a boat and […]

01, 26, 2014
Comments Off on Chapter 6D Corps Act

By whiggs

Fundraising (Chapter 6D)

Chapter 6D Corps Act

Chapter 6D of the Act (ss 700-742) contains a highly prescriptive scheme in respect of the disclosures that are, and are not, to be made in respect of the corporate fundraising governed by the chapter. Section 703 ensures that there can be no contracting out of the requirements of the chapter. Sections 704 to 725 […]