managed investment scheme

Financial planning

ASIC suspends AFSL of Sydney fund manager

ASIC has suspended the AFSL of a Sydney fund manager, which operates a managed investment scheme, over repeated failures to comply with licensee obligations....

Financial planning

Former Keystone director sees company assets frozen

A judge has frozen the assets of former Keystone director Paul Chiodo’s company and ruled in ASIC’s favour that administrators can be appointed to wind up the firm. ...

Financial planning

ASIC applies for Keystone liquidation

ASIC has applied for Keystone to be liquidated rather than wound up, as the Federal Court requests a report detailing the potential returns for any victims who have suffe...

Funds management

Melbourne fund manager sees AFSL suspended

ASIC has suspended the AFS licence of a Melbourne fund manager responsible for six managed investment schemes....

Financial planning

Wholesale investor eligibility spikes by 700%

The number of people eligible for the wholesale investor test has risen by more than 700 per cent since its introduction, and advisers need to ensure they are making thei...

Financial planning

Millions of consumers put at risk from wholesale investor test

The FAAA is concerned about consumers without the necessary knowledge to invest in managed investment schemes being classified as wholesale investors, as the number of pe...

Policy & Regulation

A torrid timeline of Sterling Income Trust

As three directors face multiple criminal charges for their involvement in Sterling Income Trust, four years after it collapsed, Money Management reflects on Sterling’s t...

Policy & Regulation

Multiple criminal charges laid on three Sterling directors

Three directors connected to the collapse of managed investment scheme Sterling Income Trust have been charged with multiple criminal charges, four years after its collap...

Financial planning

AAT grants temporary stay to director banned by ASIC

The appeals tribunal has granted a temporary stay order to a Queensland director who was banned by ASIC in March for failing to meet fit and proper person requirements. ...

Policy & Regulation

US and UK-style restrictions unnecessary for MISs

Proposals to place US or UK-style restrictions on products in the Australian managed investment schemes would be “radical” when ASIC already has significant product inter...

Financial planning

Treasury opens consultation on managed investments schemes

Following its initial announcement in the October 2022‑23 Budget, the Government is now seeking feedback on the appropriateness of the existing regulatory settings for ma...

Financial planning

ASIC suspends Perth-based AFS licence

The regulatory watchdog has suspended the AFS licence of NWQ Capital Management, trustee of two unregistered managed investment schemes, until January 2024....

Financial planning

Company director pulled up by ASIC for unlicensed MIS

ASIC has taken civil action against a company director for alleged unlicensed conduct and operating numerous unregistered managed investment schemes. ...

Financial planning

Federal Court winds up unregistered MIS and disqualifies director

An unlicensed financial adviser, Monica Kaur, has been permanently restrained from carrying on a financial business and her unregistered managed investment has wound up b...

Financial planning

Adelaide-based AFSL sees licence suspended

ASIC has suspended the AFS licence of a managed investment schemes and general advice provider after it failed to lodge financial statements and audit reports for the fin...