MDS in JV with NY asset manager
Expansive publicly-listed financial services firm, MDS Financial Group, announced this week it had entered into a strategic alliance with New York-based J. Streicher Asset Management to develop and market products in Australia.
The company announced the arrangement to the Australian Securities Exchange on Monday, saying a Memorandum of Understanding had been signed following negotiations in New York earlier this month.
Under the JV, the firms will establish a funding vehicle to develop financial products for the Australian market, develop an international stock-trading product to allow Australian and US investors to transact inter-border and develop specialised financial products aimed at MDS's Self Managed Superannuation Fund client base.
Recommended for you
ASIC has cancelled the AFSL of an advice firm associated with Shield and First Guardian collapses, and permanently banned its responsible manager.
In the run-up to heavy losses expected at the end of the financial year, June has already reported consecutive weeks of adviser losses.
ASIC has banned a former NSW adviser from providing advice for 10 years for investing at least $14.8 million into a cryptocurrency-based scam.
ASIC has sent warning notices to social media finfluencers who it suspects are providing unlicensed financial advice to Australians as part of a global crackdown by international regulators.
