I can’t believe that Derivex and people on this forum are claiming that ASIC and MIAA are in cahoots on the Derivex issue. Keep in mind, Derivex have made a number slanderous claims on their website to suggest this may be the case but they have no proof. Even if it was true, that is no excuse (or defence in court) for public slander.
If the police recive a complaint I’m sure the general public would like to see them investigate it.
I have written to ASIC pointing out the offending section(s) of the Derivex website and I would hope they act to have it removed or modified asap.
Natalie
Nat, I don’t know why you only post negative comments attacking people’s opinions which differ from yours. Bryce is looking at a product that may or may not come out and comparing them. I consider this prudent.
Just because something is “under investigation” does not mean anything. For your information, ASIC’s enquiries were not regarding the product. It was about the organisation. I do not know if those enquiries have now extended to include the product but, either way, because it is being checked out does not automatically make it wrong. It is a new product and people are always going to be concerned or, as in your case, feel threatened by them.
Take a pill and chill.
By the way Nat, as I have previously posted, I have evidence that the MIAA complained to Fair Trading although I do not have evidence that they also complained to ASIC. It would be a fair assumption though.
Robert Bou-Hamdan
Mortgage AdviserAlso in addition to my last post, it is interesting that those giving Derivex the benefit of the doubt have no problem providing their personal and business contact details while those so opposed to it hide behind their screens under protection of anonymity in case they are shown to be wrong.
If you are wrong, you can just dwindle away into nothing whereas those who do not hide will just apologise for their error and move on.
Nat, you always go on about credibility and knowledge yet you seem to possess neither. You are just a bitter person in my opinion.
Robert Bou-Hamdan
Mortgage AdviserPlease re-read my pots..you will note that I did not mention the product.
BTW I don’t feel threatend by it, why would I?? I’m not a lender and I don’t work for a bank.
To be honest: I actually think it is on of the most hilarious things I have ever seen….I can’t believe the number of punters that jump to the defence of this thing when it doesn’t have legs and has gone no where for 6mths.
Keep it up !!!!
I beg to differ Nat.
YOU SAID…
How can you possibly talk about “Duty of Care” and then reccomend a product that is under investigation by ASIC….do you value your Finacial Advisor status in any way??…or does it more reflect the fact that being a “registered”Finacial Advsior really does not mean much??Either way I can’t belive you have done this.
If you don’t feel threatened by it, why does it seem that you spend every waking moment watching the Derivex website for changes?
Robert Bou-Hamdan
Mortgage AdviserWhy you ask??
Everyone needs a hobby…mine is watching the uneducated and ill-informed chase products that are pure fantasy
Its just too funny
[biggrin]
Originally posted by Nat R:the uneducated and ill-informed chase products that are pure fantasy
Again with the insults…
As is clearly evident by my posts to all who read this forum, I am both educated and well-informed. So are many of the other posters who are not as quick as you to discard something which we do not as yet have access to all the information regarding its operation.
I don’t think any of us are “chasing” anything but willing to give the benefit of the doubt to something that is new to the market. Every time a new product comes out, people like you are a dime a dozen. They come out of the woodwork especially if they stand to lose financially from the success of the new product and belittle it.
Regarding the product being “pure fantasy”, I think you need your head read. Compounding returns and term mismatches alone make this offering profitable. The question is whether it could be profitable enough to attract the big dollars required to operate efficiently.
You really need to lighten up Nat!
Robert Bou-Hamdan
Mortgage AdviserWith reagrd to the points you have raised above…I’ll stick with my original viewpoint thanks.
This is starting (ever so slightly) to drift away from the topic….lets be careful it doesn’t move OT all together and get locked by the mods
Cheers
Nat
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