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Wednesday, December 12, 1973
Mr. Haddon-Cave said that under the bill, it was an offence to
advertise that a person was prepared to give investment advice or manage a portfolio for payment, unless he was registered as an investment adviser under the Securities Ordinance. But if there was no specific payment or remuneration for the services, no offence was committed.
One of the clauses provides that if anyone considers he has
lost money by acting on a false or misleading statement or forecast, he has the right to claim damages against the person who made it.
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