Spike in SMSF borrowing breachesBY MARK SMITH | FRIDAY, 23 JAN 2015 12:20PMThere has been a spike in the number of self-managed super fund (SMSF) breaches related to borrowing, research by Partners Wealth Group shows. Related News |
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Blake Briggs
CHIEF EXECUTIVE OFFICER
FINANCIAL SERVICES COUNCIL
FINANCIAL SERVICES COUNCIL
Since becoming chief executive, Blake Briggs has renewed the Financial Services Council's influence, expanded the membership base, and strengthened its policy and advocacy credentials. Karren Vergara writes.







"'my suspicion is that there has been confusion, resulting in some SMSF trustees thinking it was permissible to use their fund to borrow to overcome a short term liquidity problem - much like a small business seeking a temporary extension to a bank overdraft in difficult circumstances."
That sounds more like an in house asset or maybe financial assistance to a member problem than a LRBA issue