Alarm over ‘heavy human cost’ of sophisticated investor test changes

Labor risks “swinging the regulatory pendulum too hard and too far” and shutting Australians out of potentially lucrative investment opportunities in its proposed overhaul of sophisticated investor laws, the opposition has warned.

Liberal senator and former listed company secretary Paul Scarr said Labor’s changes risked “a heavy financial and human cost” to businesses and consumers alike, calling for further consultation before the government pushes ahead with any reform.