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Securities law in Adelaide, Australia primarily falls under the purview of the Corporations Act 2001, which is administered at a federal level by the Australian Securities and Investments Commission (ASIC), and the South Australia government. The laws relate to operations of securities markets, conduct of professionals in the market, and the offering of investments to the public, with a key focus on transparency, fairness, and protection of investors.
Engaging a lawyer can be beneficial under various circumstances. If you're a business looking to raise funds through issuing securities, understanding compliance and regulatory obligations can be complex. Having a lawyer can ensure you're adhering to the law. Individuals who feel they may have been misled or treated unfairly in securities dealings can also benefit from legal help. Additionally, securities professionals facing investigation or enforcement action by ASIC might need legal representation.
The Corporations Act 2001 is the main law relating to securities in Adelaide and the rest of Australia. It regulates the issue and trading of securities, disclosure obligations, conduct of market participants and also provides for the creation of ASIC. There are also specific state regulations and guidelines provided by the South Australia government, particularly for small businesses and local investors.
What is a security? Security refers to financial instruments such as shares, bonds, and options that you can buy or sell, usually in a financial market. They come with certain rights, like claiming a company's assets or profits.
What does ASIC do? ASIC is a national body that oversees companies, financial markets, and professionals dealing in financial services and products. It enforces laws to protect consumers, creditors, and investors.
What protections do I have as an investor? As an investor, disclosure laws provide you with material information on companies and securities in which you invest. False or misleading conduct is prohibited, providing a measure of protection against fraud.
What are the obligations for issuing securities in Adelaide? Companies issuing securities must comply with the Corporations Act, including preparing a disclosure document such as a Prospectus, satisfying ASIC requirements, and maintaining ongoing disclosure to the market.
Can small businesses also issue securities? Yes, but they might be eligible for certain regulatory concessions. The exact obligations can be complex, so professional advice may be prudent.
ASIC provides extensive resources through its website, including regulatory guides, legislative instruments, and information sheets. Local law libraries and university resource centers can also be helpful. For specific professional advice, local law societies can help identify specialised law firms or practioners.
If you need legal assistance in securities in Adelaide, consider engaging a specialised law firm or practitioner. Prepare all relevant documents such as transaction details or agreements. If you believe you have been the victim of illegal conduct, report it to ASIC, who may investigate.
