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Showing 51 - 60 of 357 results for "Managed investment scheme"

CSLR will not fully protect investors

KARREN VERGARA  |  WEDNESDAY, 16 FEB 2022
... Dixon Advisory as an example. But he also agrees that the CSLR's scope falls short of regulating managed investment scheme collapses. "There are more than 1300 Australians whose complaints and compensation awarded have been paused until the passage ...

PE Capital in liquidation

KARREN VERGARA  |  THURSDAY, 10 FEB 2022
PE Capital Funds Management is now in liquidation after the Federal Court found that it operated managed investment schemes without an AFSL and engaged in misleading and deceptive conduct. The court found that over $16 million was invested in the registered ...

Inquiry criticises gaps in CSLR

KARREN VERGARA  |  MONDAY, 31 JAN 2022
The proposed Compensation Scheme of Last Resort regime has several flaws that will overlook the protection of certain investors, a parliamentary inquiry heard. In discussing the Standing Committee on Economics Financial Services Compensation Scheme ...

Hume throws shade at trustee rainy day funds

KARREN VERGARA  |  MONDAY, 22 NOV 2021
Senator Jane Hume has slammed superannuation funds for creating rainy day funds that pay for potential penalties because of misconduct. Hume points to a recent trend in which several super funds applied to the courts seeking permission to charge members ...

ASIC sues timeshare company

KARREN VERGARA  |  WEDNESDAY, 3 NOV 2021
Timeshare company Ultiqa Lifestyle Promotions is in the firing line for providing bad financial advice, following an investigation by ASIC. ASIC alleges that between October 2017 to March 2019 the advice was provided by authorised representatives promoting ...

Industry calls for expanded CSLR

ANNABELLE DICKSON  |  WEDNESDAY, 6 OCT 2021
... said. CHOICE chief executive Alan Kirkland added: "The government's proposal will exclude victims of managed investment scheme collapses, like the many elderly Australians who lost their savings through the collapse of Sterling First. It will also ...

Class action legislation open for consultation

ANNABELLE DICKSON  |  FRIDAY, 1 OCT 2021
Following industry backlash last year, the government has released exposure draft legislation for consultation on the distribution of class action proceeds in proceedings involving a litigation funder. If the legislation progresses, it will implement ...

ASIC takes property development group to court

KARREN VERGARA  |  FRIDAY, 13 AUG 2021
... superannuation funds and invest in property and developments set up by MKS Property, which is an unregistered managed investment scheme. Some $11.3 million was raised from the investors, some of which ASIC alleges was used for personal use by the defendants. ...

AFA slams skyrocketing ASIC levy

KARREN VERGARA  |  WEDNESDAY, 28 JUL 2021
... time. Anderson said: "If the litigation funding element of the ASIC funding levy was structured as a managed investment scheme, advisers would be caned for recommending this to their clients." "The AFA is calling on the government to remove the litigation ...

CSLR raises concern among advisers

KARREN VERGARA  |  FRIDAY, 23 JUL 2021
The Association of Financial Advisers (AFA) has raised concerns about the cost of the government's proposed Compensation Scheme of Last Resort and the fact that super funds and managed investment schemes are excluded from the proposed regulation. ...