Determination - 21 June 2013


Summary of Determination

I find that:
 
  • the advice provided to the complainants to purchase $135,000 of redeemable preference shares in Neovest Limited (Neovest) was inappropriate; and
  • had the inappropriate advice not been provided, it is likely that the complainants would not have purchased the Neovest shares, and would not have suffered a financial loss.
 

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