Australia’s corporate regulator has secured refunds of A$40 million to more than 38,000 investors in risky financial products, following a review of the industry.
The Australian Securities and Investments Commission (ASIC) raised concerns that marketing of high-risk products known as “contracts for difference” or CFDs, failed to clearly explain the risks involved.
This is just ASIC’s latest intervention in more than 15 years of ongoing concern with the potential harm of CFDs to retail investors.
