Starting your own self-managed superannuation fund (SMSF) has been a hot topic for over a decade now. In my time as a Financial Planner, I am observing that the age of clients seeking to open their own SMSF is becoming lower. Of all the new SMSF’s established in the last quarter, 29.8% had members between […]
ASIC
IMAP holds ASIC MDA regulation briefing – 26 October
The Institute of Managed Account Professionals (IMAP) is to host a briefing at which ASIC will speak on the rationale and details of the recent changes to MDA regulation. Attendees will also have a chance to ask questions about the intent and application of the new regulations. Hosted by Macquarie concurrently in Sydney, Melbourne and […]
IMAP welcomes ASIC’s release of updated MDA regulation
The Institute of Managed Account Professionals (IMAP) has welcomed the release by ASIC of a long foreshadowed revision of the MDA Class Order. “The new version of Regulatory Guide 179 is easy to read and a clear and pragmatic response that makes it more likely that advisers will take up MDA’s because of the flexibility […]
Less than 1% of accounting firms will have a limited AFSL between 2016 and 2019
ASIC has today revealed their latest limited licence statistics that reveal that in the last 20 business days ASIC received 16 applications for a limited licence, added four new licences and sent back nine applications. “There are 25 business days left before Christmas and then only 40 before 1st March when ASIC has said they are […]
ASIC now allowing SMSFs access to wholesale investment products
Until recently SMSFs couldn’t buy wholesale financial products because ASIC had held they were retail investors unless they had at least $10 million of net assets. ASIC has recently announced that it will loosen the constraints on SMSFs investing in wholesale products and make the test for eligibility easier to meet. “It is somewhat curious […]