managed investment scheme

Financial planning

Court freezes assets of $160m managed investment scheme entities

The Federal Court has ordered the freezing of assets and the appointment of receivers to two entities linked to Australian Fiduciaries, ASIC’s latest move in an ongoing i...

Financial planning

Unregistered MIS operator found guilty of $34m fraud

A Supreme Court of Western Australia jury has issued its verdict regarding unregistered MIS operator Chris Marco, who was on trial for 43 fraud charges, with ASIC stating...

Financial planning

ASIC launches court proceeding against managed investment scheme RE

ASIC has launched court proceedings against the responsible entity of three managed investment schemes with around 600 retail investors....

Financial planning

Managed investment scheme sees assets frozen by Federal Court

The Federal Court has made interim orders to freeze the assets of a managed investment scheme, its responsible entity, and a director....

Financial planning

ASIC suspends AFSL of Sydney fund manager

ASIC has suspended the AFSL of a Sydney fund manager, which operates a managed investment scheme, over repeated failures to comply with licensee obligations....

Financial planning

Former Keystone director sees company assets frozen

A judge has frozen the assets of former Keystone director Paul Chiodo’s company and ruled in ASIC’s favour that administrators can be appointed to wind up the firm. ...

Financial planning

ASIC applies for Keystone liquidation

ASIC has applied for Keystone to be liquidated rather than wound up, as the Federal Court requests a report detailing the potential returns for any victims who have suffe...

Funds management

Melbourne fund manager sees AFSL suspended

ASIC has suspended the AFS licence of a Melbourne fund manager responsible for six managed investment schemes....

Financial planning

Wholesale investor eligibility spikes by 700%

The number of people eligible for the wholesale investor test has risen by more than 700 per cent since its introduction, and advisers need to ensure they are making thei...

Financial planning

Millions of consumers put at risk from wholesale investor test

The FAAA is concerned about consumers without the necessary knowledge to invest in managed investment schemes being classified as wholesale investors, as the number of pe...

Policy & Regulation

A torrid timeline of Sterling Income Trust

As three directors face multiple criminal charges for their involvement in Sterling Income Trust, four years after it collapsed, Money Management reflects on Sterling’s t...

Policy & Regulation

Multiple criminal charges laid on three Sterling directors

Three directors connected to the collapse of managed investment scheme Sterling Income Trust have been charged with multiple criminal charges, four years after its collap...

Financial planning

AAT grants temporary stay to director banned by ASIC

The appeals tribunal has granted a temporary stay order to a Queensland director who was banned by ASIC in March for failing to meet fit and proper person requirements. ...

Policy & Regulation

US and UK-style restrictions unnecessary for MISs

Proposals to place US or UK-style restrictions on products in the Australian managed investment schemes would be “radical” when ASIC already has significant product inter...

Financial planning

Treasury opens consultation on managed investments schemes

Following its initial announcement in the October 2022‑23 Budget, the Government is now seeking feedback on the appropriateness of the existing regulatory settings for ma...