IF a site like HC had to have a AFSL would it then be legally liable for any/all content ?
The internet has a lot of blogs that make financial type comments..would they be required to get a AFSL license?
Would any financial related comments made on the net be able to be made without a AFSL license?
Will finance be taboo? No unprofessional news of a financial kind could mean the end of investing in shares.. as if they aren't already out of favour. imo.
Could this lead to the end of all investment discussion by individuals who dont have a AFSL license? Imagine a market just for those with a license. Discussion of any kind could be a form of preferential insider trading?
The market seems pretty undermined and craving transparency to recover. IDS allow the participants of a free market to talk and allow the expression of emotions and exchange of opinions , I believe.
I hope that this consultation paper clarifys the part forums can play in the market. Recommendation from others has always been just one method to choose investments.
HC is like the phone or fax or the page that enables interaction but the phone or fax or the page does not need a license.
I am not a financial professional but hope to have a right to discuss subjects..even financial ones without a license.
I could suggest that i think that taking panadol is good for my headache but I am not a doctor and it is up to the other person to decide whether to take a panadol or not.
You can see I am not legally qualified and unless I state that I AM A FINANCIAL ADVISOR...or charge for my opinions. I shouldnt need a license to chat.
HC does not charge me either. It must be pretty obvious that neither HC or I are financial advisors.. Well that how I see it. What do others say?
