Opinion

‘Sophisticated investor’ rule change will be counterproductive

It’s not the money, it is the advice and expertise that a new investor can get access to that protects everyone’s interests.

Mark Humphery-JennerFinance academic

Jan 22, 2024 – 1.40pm

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Labor has flagged tightening the definition of who is a ‘sophisticated investor’ and, thus, who can invest in start-ups.

While this is well meaning, peer reviewed research suggests it is likely to be counterproductive both for investors and for the start-up ecosystem.

Mark Humphery-Jenner is associate professor of finance at UNSW Business School

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