I think the jb hi-fi debarcle should be dropped, its been cited enough times, and chris becker did man up an admitted he was off the mark. Which i couldn't see some people on here doing
AFAIK Chris Joye doesn't operate an IDS. Regulatory Guide 162 therefore has no relevance to him.
What we mean by ‘internet discussion sites’ 1 By the term ‘internet discussion sites’ (IDSs), we mean internet websites, such as web-based bulletin boards, ‘blogs’, or chat rooms, that provide a forum for people who are not financial services professionals to display information, recommendations and opinions about financial products. People generally register their details with an IDS, which allows them to then ‘post’ material on the IDS that can be viewed by other people.
Blogs count. Did CJ ever let people post in the past ? (He certainly has allowed others to have their letters and opinions in the past).
The whole thrust of this seems to be that if the poster (CJ in this example) has an identity that has been somehow matched to a real world identity which has credibility in the financial world, their posts must fall under some set of rules governing their actions.
I doubt CJ or almost any other poster/blogger with financial credibility would simply escape without being regulated in some fashion.
Are you in danger of giving financial advice? - Somersoft Property ... somersoft.com/forums/showthread.php?t=73860 9 Sep 2011 – There's also an interesting paper here on IDS (Internet Discussion Sites) by ASIC Regulatory Guide 162. Quote: ...
Someones post from 2011... I doubt Somersoft has considered the topic any more than many other forums strindberg.
While you are filling out the complaint for Macrobusinss, want to add somersoft to the list ? Or perhaps you'll just let them slide by eh ? :wink:
I think the jb hi-fi debarcle should be dropped, its been cited enough times, and chris becker did man up an admitted he was off the mark. Which i couldn't see some people on here doing
Link? The main issue here is not that Chris Becker and his pal's advice has turned out to be costly. The issue is that he should never have offered his views on an IDS in his capacity as a Director of Empire Investing.
Did CJ ever let people post in the past ? (He certainly has allowed others to have their letters and opinions in the past).
The whole thrust of this seems to be that if the poster (CJ in this example) has an identity that has been somehow matched to a real world identity which has credibility in the financial world, their posts must fall under some set of rules governing their actions.
As far as I know, CJ isn't a licensed financial advisor, and even if he was, he doesn't give advice about specific shares on his blog.
So I don't really see the relevance?
On the other hand, some of the people who run Macrobusiness appear to be licensed finance professionals, and they do give advice on specific shares.
As far as I know, CJ isn't a licensed financial advisor, and even if he was, he doesn't give advice about specific shares on his blog.
So I don't really see the relevance?
As previously stated, it is all irrelevant given the disclaimers.
However, I'm sure ASIC would take much more interest in any possible questionable posting activities of Christopher Joye rather than MB, considering that he:
has an established influence within the housing sector
has established political channels
writes mainstream articles, and cowrites with major financial players such as YBR's Bouris
has an index listed on the ASX
I too would be interested to see how you go with ASIC.
As previously stated, it is all irrelevant given the disclaimers.
Not according to ASIC.
Quote:
RG 162.35 If a licensee operates an IDS, users may be prone to regard it as part of the securities business the licensee carries on. They may therefore treat it differently from an IDS operated by someone who is not a licensed adviser or dealer. We do not think that the warnings and disclosures in our guidelines are sufficient to minimise the risk that people using the IDS will regard it as a licensed activity. For example, postings made by a licensee, whether as an original contribution or as a comment on other postings, will tend to have an authority different from that of other postings. This means they should attract the obligations that apply to the holder of a licence. RG 162.36 In our view, therefore, it is not appropriate to allow licensees to operate IDS except as a licensed activity
This forum is turning into endless troll where Rismark employees are trying to ruin growing reputation of macrobusiness.
Australian properties are not main issue for the spruikers anymore. Most of topics are not related to properties at all and even when somebody starts a relevant topic it quickly gets trolled by Rismark crew.
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