SMSF Association joint Submission with SAFAA – Access to Capital

SMSF Association and Stockbrokers and Financial Advisers Association Submission to the Senate Select Committee on Financial Technology and Regulatory Technology on ‘access to capital’.

The SMSF Association (SMSFA) and Stockbrokers and Financial Advisers Association (SAFAA) welcome the opportunity to provide a submission to the Senate Select Committee on Financial Technology and Regulatory Technology. We focus this submission on ‘access to capital’ and the issue facing retail and SMSF shareholders who have been unable to participate in many recent capital raising.

Retail shareholders and SMSF trustees are significant investors in ASX listed companies which helps generate living and retirement income for a significant proportion of the Australian population. Our associations believe there is a level of inequity in recent and current capital raisings that are being undertaken by many Australian ASX-listed businesses.

It is vital that we continue to promote and support the capacity of all Australians to participate in equity capital markets and to support Australian businesses.

Therefore, the SMSFA and the SAFAA believe that:

  • ASX 200 listed companies should structure offers to maximise access for retail investors to a proportionate offer. This includes setting aside a certain proportionate allocation for retail-focused brokers and firms to utilise their current modern technologies to provide offers quickly to SMSFs and retail clients
  • If a company does not offer retail investors the chance to participate, they should publicly explain why not.
  • Companies should disclose post-allocation to their investors the percentage of retail, SMSF and institutional offer allocations.
To read the joint submission, please click below.

SMSFA and SAFAA Submission on Access to Capital


Submission to the Senate Select Committee on Financial Technology and Regulatory Technology with focus on ‘access to capital’