REP 365 Hybrid securities
Released 20 August 2013.
This report discusses offers of hybrid securities in the Australian market since the global financial crisis, and in particular, the extensive issuance from November 2011 to June 2013.
Hybrid securities often have very complex features and the risks they can pose are often poorly understood by investors. This report describes:
- what we have done to engage with hybrid issuers and the brokers that sell hybrid securities so that these features and risks are clearly disclosed and the products are not being mis-sold; and
- the investor warnings and education about hybrid securities we have provided through the media and on ASIC’s MoneySmart website.