ASIC launches 'Between the Flags' guide
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The Australian Securities and Investments Commission (ASIC) has produced its long-awaited guide for retail investors — Swimming Between The Flags.
The guide, launched today by ASIC chairman Tony D’Aloisio, gives uninitiated retail investors a set of basic steps but, contrary to some industry expectations, does not endorse particular types of investments.
Commenting on the release of the guide, D’Aloisio said it was intended to help put retail investors on the path to investing more wisely.
“It is just a metaphor but when you go swimming at the beach, you will reduce the risk of drowning if you swim between the flags, similarly, when you invest, you will reduce the risk of losing your money if you adopt the investing behaviours identified in this guide,” he said.
The guide, while not advocating particular investments or suggesting that people necessarily utilise the services of an adviser, contains cautionary notes and descriptions about particular types of investments
AUTHOR
Mike Taylor
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