ASIC pursues hybrid "crackdown" as SMSF allocations grow

The Australian Securities and Investments Commission (ASIC) confirmed on August 20 that it plans to further tighten its oversight of hybrid securities with the goal of ensuring "these complex financial products are not mis-sold to investors". The latest ASIC report on the hybrid market was published a day after the release of data suggesting that self-managed superannuation fund (SMSF) assets have continued reweighting out of cash and into hybrids.