Regal Funds Management under investigation
Regal Funds Management is under investigation by the Australian Securities and Investments Commission (ASIC) for an undisclosed issue.
In an announcement to the Australian Securities Exchange (ASX), Regal’s responsible entity Equity Trustees requested the ASX grant a temporary halt for the Regal Investment Fund for two business days.
News reports suggested ASIC was examining the hedge fund for its trading “in certain securities” and obtained documents from its Sydney office.
The ASX placed the fund in a trading halt and said the securities would remain in trading halt until the earlier of the commencement of normal trading on 28 November, 2019, or when an announcement was released to the market.
A Regal spokesperson said: "As an active participant in Australian equity markets, Regal is subject to scrutiny from regulatory bodies from time to time. Regal’s responsibility to its clients is paramount and it takes its obligations to comply with all laws and regulations very seriously. Regal is cooperating fully with the investigation.
"The existence of this investigation does not impact Regal’s ability to provide asset management services to its clients."
Recommended for you
Two former senior Global X employees have launched their own ETF provider, ETF Shares, focused on offering index ETFs for advisers and retail investors.
With GCQ Funds Management and Lakehouse Capital making their recent ETF debuts, the two fund managers unpack why financial advisers are essential to their respective launches.
ETF provider Global X is set to launch its latest ETF, focused on artificial intelligence infrastructure.
Index provider MSCI has unveiled two measures to make it easier for financial advisers and wealth managers to access transparent insights into private assets.
