Australian Investors
This applies to Australian investors only
In Australia, we are regulated by the Australian Securities and Investment Commission (ASIC) which regulate and monitor financial products. Recently, the rules changed and our software/signals became classed as a 'financial product'. As we don't hold a financial services licence (we are software designers) we are restricted as to who we can sell this product to.
If you are what is called a 'Sophisticated Investor' as defined by the ATO, then you are OK to go ahead and subscribe. If you aren't - don't despair. please contact us as there may be a potential legal solution for you.
Definition of Sophisticated Investor
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A person with a certificate from a qualified accountant certifying they have a prescribed net asset or gross income level. This gives them an exemption under the Corporations Act 2001. That means they can buy financial products without a regulated disclosure document such as a prospectus or product disclosure statement.
A person holding a certificate is a:
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‘sophisticated investor’ for the purposes of Chapter 6D (if offered debt or shares), or
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‘wholesale client’ for the purposes of Chapter 7 (if offered a financial product, other than insurance, superannuation or a retirement savings account product or service) and the financial product is not used in connection with a business
To be eligible for a certificate, you must have:
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a gross income of $250,000 or more per year in each of the previous two years, or
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net assets of at least $2.5 million (reg 6D.2.03 and reg 7.1.28)