ANZ 0.16% $32.18 anz group holdings limited

opes mediation two, page-16

  1. 140 Posts.
    Mich,

    perhaps the PDS/FSG for the OP product should have had the following disclosures in large red lettering on page 1:

    WARNING: THIS PRODUCT IS NOT MEANT FOR RETAIL AND/OR UNSOPHISTICATED INVESTORS. IT IS NOT A MARGIN LOAN ACCOUNT. YOU LOSE LEGAL TITLE TO ANY SHARES YOU LODGE IN YOUR ACCOUNT. FURTHER, YOUR SHARES WILL BE POOLED WITH ALL OTHER OPES CLIENTS, SO IN EFFECT YOU HAVE COUNTER PARTY RISK TO THEIR POSITIONS. IN THE EVENT OF DEFAULT BETWEEN ANZ AND OPES, YOUR SHARES WILL BE SOLD WITHOUT REFERENCE TO YOU, AND YOU BECOME AN UNSECURED CREDITOR TO OPES.

    BY SIGNING BELOW YOU ACKNOWLEDGE AND ACCEPT THESE RISKS.

 
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