court hearing, page-7

Also thought that the defence that Commsec didn't give a warning would have been raised. Commsec markets itself to the mum and dad investor and let's be honest, how many of you mum and dad investors out there knew exactly what a particular suffix, such as "CA" attached to a stock code represented? I've seen a lot of mum and dad investors post on hotcopper and for many their level of knowledge is not deep, they have trouble understanding extremely basic concepts such as Renounceable versus Non renounceable rights issues, Record dates, Deferred trading, etc. Partly paid shares is a relatively rare phenomenon on the ASX so the chance that an average retail investor would be able to identify these are negligible IMHO.