Print this article
ASIC Calls Out Credit Suisse, UBS On Potentially Misleadings Ads
Vanessa Doctor
6 September 2013
, ASIC deputy chairman. "Investors in these products have limited or no exposure to the positive performance of shares when prices rise, but downside risk in a falling market, often concentrated to the product's worst performing reference share." Both banks are cooperating with the directive. Instreet Investment, which distributes a structured product issued by UBS, has already removed possibly misleading statements from its website and stopped giving the materials out through financial advisors. "This should provide further encouragement for the industry to take a strong role in ensuring ads and product labelling help consumers make confident and informed decisions," added Kell.