Warning bells should ring when commission is just too high
Wed Dec 27 2006
The Australian Financial Review --- Page: 35 : 27 December 2006 Original article by Barrie Dunstan
ABIX Summary
Queensland has a high proportion of Australia's investment scams, according to Jan Redfern of the Australian Securities & Investments Commission (ASIC). Investors should feel suspicious if the promised returns are high (67% in one case), or if the scheme has commission rates of 10%, as occurred in the Westpoint case. Redfern believes that ASIC needs to promote its message more and that investors need improved "financial literacy".
