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ASIC flags $40 million in refunds after review of risky financial products

By Adrian Lee, Associate Professor in Property and Real Estate, Deakin University

Australia’s corporate regulator has secured refunds of A$40 million to more than 38,000 investors in risky financial products, following a review of the industry.

The Australian Securities and Investments Commission (ASIC) raised concerns that marketing of high-risk products known as “contracts for difference” or CFDs, failed to clearly explain the risks involved.

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