Online registry for sophisticated investors
An online registry has been launched by Sophisticated Access to look after sophisticated investor certificates online.
The real-time registry, Cygura, lets investors and their accountants, financial advisors, and products issuers manage the certificate online.
Founder Peta Tilse said Cygura is a central, electronic online system that lets advisors and accountants see their clients’ status in one place instead of multiple certificates with advisors and product providers.
When an investor registers with Cygura, they are asked to give their accountant’s details including name and e-mail address. Cygura then contacts the accountant to ask to certify the investor’s status under the Corporations Act 2001.
Then the investor can log in to Cygura, and share their certificate with investment advisors and product issuers.
Sophisticated investors get priority to institutional deals including pre-IPO offers, private placements, property syndicates and structured investment products.
But they lose retail investor disclosure protections.
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