ASIC has released Report 365 Hybrid securities (REP 365) which discusses recent offers of hybrids in Australia. There has been more than $18 billion of hybrids issued by banks and corporates since November 2011. In the Report, ASIC reviews the selling methods and sales processes of issuers and brokers. ASIC will focus on possible misleading conduct in the sale of hybrids including inappropriate labelling of hybrids and unwarranted comparison of hybrids to different, less risky products. ASIC has also identified investor education about hybrid securities as a priority. It will explore whether new strategies can be developed to help investors check their understanding of hybrids before investing in them.