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Showing 221 - 230 of 437 results for "Managed investment scheme"

ASIC audits limited AFSLs

KARREN VERGARA  |  THURSDAY, 20 JUL 2017
... ASIC commenced legal proceedings to protect the interests of 125 people who invested $22 million in a managed investment scheme operating without a licence. The regulator is seeking to wind up VKK Investments Unit Trust, a land banking scheme which owns ...

Aurora pushes for Hastings takeover

ALEX BURKE  |  MONDAY, 17 JUL 2017
... acts as the responsible entity for both AIB and HHY, said this would provide investors with a larger managed investment scheme, which would "enhance the ability to grow the returns of the portfolio on a measured and sustainable basis." "Additionally ...

RG 133 review reveals poor compliance

EMMA RAPAPORT  |  THURSDAY, 22 JUN 2017
Custodians and responsible entities of managed investment schemes with asset holding requirements are falling short of ASIC expectations, showing generally poor levels of understanding and compliance with Regulatory Guide 133. These findings form part ...

Funds management not up to scratch: ASIC

EMMA RAPAPORT  |  WEDNESDAY, 14 JUN 2017
... they represent," ASIC commissioner John Price said. "As a minimum, responsible entities must ensure a managed investment scheme is operated in accordance with the Corporations Act and that they comply with their obligations as a responsible entity, as ...

ASIC cancels AFSL, bans former executives and fund managers

JAMIE WILLIAMSON  |  TUESDAY, 30 MAY 2017
... 217 contraventions of the Corporations Act. Together they misappropriated $147.5 million held by the managed investment scheme known as the Premium Income Fund (PIF) on behalf of unitholders, using the funds to pay debts owed by other related entities ...

ASIC bans former Avestra directors

ALEX BURKE  |  WEDNESDAY, 17 MAY 2017
Former directors of Avestra Asset Management have been banned from providing financial services for 10 years. Paul Rowles and Clayton Dempsey were found by the Federal Court to have engaged in multiple contraventions of the Corporations Act. These included ...

ASIC cancels responsible entity AFSL

EMMA RAPAPORT  |  WEDNESDAY, 12 APR 2017
... ASIC; lodge its financial reports within the required timeframe; lodge compliance plan audits for the managed investment scheme it operates within the required timeframe; and notify ASIC of significant breaches within the required timeframe. Commenting ...

Super funds trawling eBay for legacy parts

ALEX BURKE  |  THURSDAY, 2 MAR 2017
FSC chief executive Sally Loane believes financial services laws are "locking down" the industry and consumers into out-dated products. Speaking at the FSC State of the Industry address in Sydney, Loane said the problem is embedded to the extent where ...

mFund to expand product offering

JAMIE WILLIAMSON  |  THURSDAY, 22 DEC 2016
ASIC is in the final stages of making a greater range of managed investment products available via the mFund Settlement Service. Until now retail investors could only apply for and redeem interests in simple managed investment schemes with a shorter ...

ASIC approves world-first fintech exemptions

ALEX BURKE  |  THURSDAY, 15 DEC 2016
... technology neutral regulation for the financial sector and facilitating rationalisation of life insurance and managed investment scheme legacy products."