The Government’s package of Bills to implement the Managed Investment Trusts reforms was passed by Parliament yesterday, Minister for Small Business and Assistant Treasurer, Kelly O’Dwyer MP said. “These reforms were promised by Labor but never delivered,” Minister O’Dwyer said. “The reforms modernise and enhance the competitiveness of Australia’s funds management industry, one of the […]
The Federal Government has released a policy paper seeking feedback on proposed changes to the Australian client money rules. A copy of the policy paper can be found here. Under current legislation, money given to an AFS licensee for a financial product or service by a client that is not remuneration or payment for the product or service must […]
The Federal Government has announced the new complying investment framework for the Significant Investor Visa (SIV) and Premium Investor Visa (PIV) programme. The new framework will be implemented from 1 July 2015. Under the new arrangements, SIV applicants will be required to invest at least $5 million over four years in complying investments, which must now […]
ASIC has issued its latest report into prospectuses, mergers and acquisitions and takeovers (click here for a copy of the report). In the report, ASIC raised concerns on over 33% of prospectuses lodged with it during the second half of 2014, including issuing 27 interim stop orders. Its concerns included: prospectuses being prepared in a […]
ASIC has updated Regulatory Guide 100 Enforceable Undertakings by including guidance about independent experts and publicity for enforceable undertakings. Here is a link to ASIC’s media release (link) and RG 100 (link).
The Australian Taxation Office has issued an Interpretative Decision (ID 2015/7): Income tax/Superannuation: Foreign currency translation rules in working out “applicable fund earnings” under section 305-75 of the ITAA 1997. Here is a link to ATO ID 2015/7 (link).
ASIC is reviewing its regulatory guidance for investors who want to take collective action to improve the corporate governance of listed entities. Here is a link to ASIC’s media release (link) and the consultation paper (link).
ASIC is making enquiries of a number of responsible entities of registered managed investment schemes regarding their risk management practices. Here is a link to ASIC’s media release (click here).
The Government has released a draft investment framework for an enhanced Significant Investor Visa Scheme (SIV) and design options for a new Premium Investor Visa (PIV). Here is a link to the joint media release (click here).