ASIC to spell out retail investment agenda
Tony D'Aloisio
The chairman of the Australian Securities and Investments Commission, Tony D’Aloisio has flagged that he will be using this week’s Financial Planning Association conference in Sydney to detail progress in the regulator’s approach to retail investment.
D’Aloisio used an addressed to the Australian Institute of Company Directors this week to point to the increasing level of retail investment in Australia and the manner in which ASIC was seeking to deal with the issue.
“Direct retail investment has increased significantly and we are seeing more sophisticated products aimed at retail investors,” he said.
“The retail investor has become, with the increase in personal wealth, a significant sector in our financial markets.”
D’Aloisio said that a special team, under the leadership of ASIC deputy chairman Jeremy Cooper, was examining the risks for the retail investor and would respond with projects to help address those risks.
He said the team would also be developing a more investment-wise retail sector, “with better access to quality advice and better equipped to protect their wealth”.
D’Aloisio said he would be making a more detailed statement at the FPA conference.
AUTHOR
Mike Taylor
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