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ARTICLE · 09 OCTOBER 2023

Funds Update – 6 October 2023

Herbert Smith Freehills Kramer LLP
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The consultation period for Treasury's Consultation Paper on its review of the regulatory framework for managed investment schemes closed on 29 September 2023.

AustraliaFinance and Banking
Fiona Smedley
Fiona Smedley

In this Funds Update for 6 October 2023:

  • ASIC calls on AFSL holders to strengthen their remediation procedures
    MIS Review consultation closes
    ASIC reissues Regulatory Guide 249 re derivative trade repositories
    Victorian tax changes for real estate and infrastructure funds

ASIC calls on AFSL holders to strengthen their remediation procedures

On 25 September 2023, ASIC published a media release calling on Australian financial services licensees (AFSL holders) to ensure they remediate affected customers quickly and fairly, in line with ASIC's guidance in Regulatory Guide 277 – Consumer remediation (RG 277), following ASIC's review of the remediation policies and procedures of various large financial institutions to assess their implementation of RG 277.

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