Funny thing happened to me yesterday.
Was emailed a 'standard proforma'.....warning bells ringing already.....from my Banker asking me if it was OK for my accountant to fill in the form and certify that I qualified as a "sophisticated investor".
I quickly sent a note off to both of them saying that I was far from a sophisticated anything....more like a dodgy roughneck with a few plots of industrial dirt - not exactly what I had in mind for a "sophisticated investor".
My accountant called me this morning to agree, that indeed I was nowhere near what he'd call sophisticated. We both had a good chuckle.
Anyway, my accountant set me on the straight and narrow, apparently the Bank wants the form so it can send me unsolicitored offers and by-pass the whole ASIC prospectus thing.
What they are trying to flog to me, managed funds and the like....I'm not interested in buying, but just thought it interesting that in the legislation there is a term called a "sophisticated investor", with very specific criteria...dunno what they are though....who apparently can purchase, and likewise the Banks and other friendly organisations can sell to, things without the benefits of a prospectus.
Anyone on this forum lawfully classifed as a 'sophisticated investor'.
Was emailed a 'standard proforma'.....warning bells ringing already.....from my Banker asking me if it was OK for my accountant to fill in the form and certify that I qualified as a "sophisticated investor".
I quickly sent a note off to both of them saying that I was far from a sophisticated anything....more like a dodgy roughneck with a few plots of industrial dirt - not exactly what I had in mind for a "sophisticated investor".
My accountant called me this morning to agree, that indeed I was nowhere near what he'd call sophisticated. We both had a good chuckle.
Anyway, my accountant set me on the straight and narrow, apparently the Bank wants the form so it can send me unsolicitored offers and by-pass the whole ASIC prospectus thing.
What they are trying to flog to me, managed funds and the like....I'm not interested in buying, but just thought it interesting that in the legislation there is a term called a "sophisticated investor", with very specific criteria...dunno what they are though....who apparently can purchase, and likewise the Banks and other friendly organisations can sell to, things without the benefits of a prospectus.
Anyone on this forum lawfully classifed as a 'sophisticated investor'.