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Showing 361 - 370 of 437 results for "Managed investment scheme"

ASIC slaps six year ban for MIS fraud

ASIC RELEASE  |  MONDAY, 24 AUG 2009
... providing financial services for six years after he stole $15.2 million from clients and ran an unregistered managed investment scheme. This follows an investigation by ASIC into the operation of a private mortgage investment business operated by West ...

Westpoint auditors get just desserts

ASIC RELEASE  |  TUESDAY, 18 AUG 2009
Three KPMG partners have been banned as registered auditors for periods ranging from nine to 24 months following ASIC's crackdown on their roles in the Westpoint collapse. ASIC has accepted enforceable undertakings (EUs) from three partners of KPMG's ...

ASIC targets another MIS scheme

ASIC RELEASE  |  THURSDAY, 13 AUG 2009
... to wind up and appoint a liquidator to Finchley Central Funds Management - the responsible entity of managed investment scheme, Finchley Development Capital Funds. ASIC is seeking orders from the Federal Court of Australia to have Finchley wound up and ...

ASIC cracks down on MIS scammer

ASIC RELEASE  |  FRIDAY, 7 AUG 2009
ASIC has turned its attention on a managed investment scheme (MIS) operator, James Kentwell Lovell, who allegedly fleeced $7.9 million from 200 investors, including self-managed super funds. On 29 July 2009, ASIC obtained interim orders in the Supreme ...

Agribusiness MIS suffer 77pc drop

RUTH LIEW  |  MONDAY, 20 JUL 2009
First Timbercorp fell, then Great Southern plummeted - fuelling Australia's agribusiness managed investment schemes sector to suffer a 77 per cent decline in invested funds for the last financial year. New figures from the Australian Agribusiness Group ...

Push for redemption freeze lifts: PASL

COMPANY RELEASE  |  WEDNESDAY, 15 JUL 2009
Super fund trustees should not be afraid to challenge redemption freezes and question the validity of the Responsible Entity model if it's in their members' interests, said Professional Associations Superannuation Fund (PASL). PASL made the comments ...

Timbercorp buy passes sole purpose test

RUTH LIEW  |  MONDAY, 6 JUL 2009
The $1.5 billion First Super, which last week entered a consortium to snap up collapsed Timbercorp's forestry assets, will not be in breach of the sole purpose test if the deal was to be finalised, said a superannuation expert. Michael Vrisakis, partner ...

ASIC reveals cap arising enhancements

ASIC RELEASE  |  MONDAY, 22 JUN 2009
ASIC has released new measures to boost market disclosure and efficiency in capital raisings and unlisted disclosing entities. The new equity raising policies released at the end of last week seek to streamline the fundraising process by faster and ...

ATO targets loss schemes

RUTH LIEW  |  MONDAY, 1 JUN 2009
As the 2008-09 financial year draws to a close, tax commissioner Michael D'Ascenzo warned last month that his office will be closely reviewing three arrangements that attempt to falsely generate claims for inappropriate tax losses. The department is ...

Netwealth hires legal and reg consultant

COMPANY RELEASE  |  TUESDAY, 26 MAY 2009
Financial services firm, netwealth, has hired Davyd Lewis to provide in-house legal and regulatory expertise. Lewis was previously a partner at Mallesons in Melbourne where he worked across mergers and acquisitions, property, construction and the environment. ...