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Investors Exchange PDS given stop order

Investors Exchange PDS given stop order

— 1 minute read

The corporate regulator has put a stop order on the issuing of a product disclosure statement from Investors Exchange Limited following concerns it didn’t adequately disclose risks and conflicts of interests.

The PDS, Investors Exchange Craft Brewery Investment #1 (dated 15 March 2019), was for a class of interests in the Investors Exchange Investment Fund, ASIC said in a statement.

ASIC noted concerns the PDS didn’t adequately disclose risks and conflicts of interests, that it omitted important information about the investment and associated expenses such as fees and costs, and included outdated and incorrect references.

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ASIC had previously issued an interim stop order on the PDS on 10 May, before Investors Exchange Limited subsequently consented to a final stop order.

“While the final stop order is in force, no offers, issues, sales or transfers of interests in Investors Exchange Craft Brewery Investment #1 can be made under the PDS,” ASIC said.

 

Investors Exchange PDS given stop order
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Adrian Flores

Adrian Flores

Adrian Flores is a features editor at Momentum Media, focusing mainly on banking, wealth management and financial services. He has also written for Public Accountant, Accountants Daily and The CEO Magazine.

You can contact him on [email protected]

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