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CAMAC paper offers a window into managed investment schemes


CAMAC paper offers a window into managed investment schemes

April 17, 2014 4:33 PM | Posted by Andrew Yik | Print this page
The recently released discussion paper by the Corporations and Markets Advisory Committee (CAMAC) provides a broad review of the establishment and management of managed investment schemes. The discussion paper may provide an indication of the types of issues that the Financial System Inquiry (FSI) will consider in relation to managed investment schemes. There are some important issues which we believe the FSI should consider (for example, the streamlining of the registered scheme registration process with ASIC and reforms regarding the related party transaction provisions). However, there are other aspects of the discussion paper, which although designed to align managed investment scheme regulation with that of companies, we believe will impose additional compliance burdens and go against current regulatory developments if implemented (for example, the proposal that wholesale schemes be registered and introducing additional content requirements for constitutions and product disclosure statements). Our alert on the discussion paper is available on our website.