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*representatives of afsl holders not to post on hc

  1. 895 Posts.
    *Representatives of AFSL Holders NOT to post on HC*

    It has come to our attention that some representatives or Authorised representatives of AFSL holders have been posting on Hotcopper. One person has been reported to ASIC. It is our underestanding that you CAN NOT post on Hotcopper if you are a person operating under an AFSL.
    see PS 162 below

    INTERIM POLICY STATEMENT 162 INTERNET DISCUSSION SITES — EXPOSURE DRAFT

    [IPS 162.52] We (ASIC) do not allow people to make postings in their capacity as licensees or authorised people. This is because IDS operated within these guidelines are intended solely as a facility for non-professionals to exchange information, advice and opinions about securities. They should not be used or held out as facilities where users can get professional investment advice. If a licensed person uses an IDS to provide opinions, that may increase the risk that users will be misled about the nature of the service.
 
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