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Showing 81 - 90 of 437 results for "Managed investment scheme"

ASIC cancels Everest Asset Management's AFSL

KARREN VERGARA  |  WEDNESDAY, 22 MAY 2024
ASIC has canned the AFS Licence (AFSL) of the asset management firm linked to a massive money-laundering operations. Everest Asset Management, which was licensed to service wholesale clients, will no longer be operational. ASIC said it revoked the AFSL ...

BitConnect promoter pleads guilty

KARREN VERGARA  |  MONDAY, 20 MAY 2024
... Commonwealth Director of Public Prosecutions. The judge withdrew a related charge of operating an unregistered managed investment scheme after Bigatton pleaded guilty to the charge for which he is to be sentenced. Upon investigating Bigatton, ASIC estimated ...

Wholesale investor test reform has several ramifications: SIAA

KARREN VERGARA  |  TUESDAY, 14 MAY 2024
Proposed changes to the wholesale investor test potentially have sprawling ramifications for financial advisers and is something some experts say will need to be thoroughly nutted out before the government pushes any reforms over the line. Potentially ...

Antipodes acquires boutique manager

KARREN VERGARA  |  MONDAY, 29 APR 2024
... access to their homeland's investment markets. In response, they set up the Premium China Fund, a managed investment scheme which invests in companies listed in Hong Kong, Mainland China, and Taiwan, among others.

'Licensee for hire' fined $1.25m by court

JAMIE WILLIAMSON  |  THURSDAY, 11 APR 2024
Lanterne Fund Services was issued a $1.25 million penalty by the Federal Court for failing to comply with basic obligations, including operating with almost no compliance staff or risk management processes. In July 2022, ASIC issued civil penalty proceedings ...

CSLR kicks off, 2k await compensation

KARREN VERGARA  |  TUESDAY, 2 APR 2024
The Compensation Scheme of Last Resort (CSLR) today opened its doors, ready to compensate about 2000 claimants who have long waited for redress. Inaugural CSLR chief executive David Berry told a media briefing: "We look forward to supporting a number ...

Wholesale investor tests up for parliamentary review

KARREN VERGARA  |  MONDAY, 25 MAR 2024
... the October 2022-23 Budget. This was followed by opening consultations to shake up the $2.7 trillion managed investment scheme (MIS) sector, which included re-assessing the thresholds last August. Several stakeholders also expressed their concerns in ...

InvestSMART launches investing platform

ANDREW MCKEAN  |  THURSDAY, 7 MAR 2024
... partners can concentrate on what they are good at without the time and cost of setting up their own managed investment scheme, administration and maintenance," a statement said. InvestSMART chair Paul Clitheroe said the launch of InvestSMART's white ...

Super funds in pole position for expanded advice

KARREN VERGARA  |  MONDAY, 26 FEB 2024
Superannuation funds will have a leg up over life insurers and banks once the federal government implements its proposal to expand financial advice. This is according to industry experts who say that super funds are in good stead to bolster the availability ...

MDA authorisations remain steady amid exodus

JAMIE WILLIAMSON  |  WEDNESDAY, 14 FEB 2024
The number of financial advisers authorised to advise on managed discretionary accounts (MDAs) has dropped just 6.1% in the past three years, despite the total number of advisers falling much more. According to analysis by Rainmaker Information, there ...