REP 6 Technical paper on financial advising activities of real estate agents
Released February 2000.
The Australian Securities and Investments Commission (“ASIC”) has prepared an interim report on its review of the financial advising activities of real estate agents. The aim of the interim report is to provide ASIC’s preliminary conclusions arising from its review, and to seek public comment on them.
This technical paper sets out some details about the nature of the real estate industry and the use of real property as a retail investment vehicle. It then details the regulatory requirements which apply to real estate agents and investment advisers under the relevant New South Wales law and the Corporations Law, respectively, in respect of their investment advisory activities. This analysis forms the basis of the comparison which is summarised in chapter 4 of the interim report.