'Get rid of wholesale investor certificates', accountants say

Accountants have told Australia's parliament wholesale investor certificates should go. (Image: Mike Scott)

Mon, 25 Nov 2024

Accountants say Australia’s system of certifying people as wholesale investors should be axed and call for a similar review on this side of the Tasman.The Australian Government has been considering proposals to make it harder for retail investors to access risky financial products amid concerns that retirees were losing their life savings in investments they didn’t understand.Earlier this year, it called for submissions on the existing wholesale investor test, which says a person is considered a ‘wholesale’ or ‘sop...

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