New developments in funds management
ASIC has released Consultation Paper 296 Funds management (CP 296), which seeks feedback on our proposed guidance in relation to managed investment schemes, corporate collective investment vehicles (CCIVs) and passport funds under the Asia Region Funds Passport, including six draft new and updated regulatory guides:
- draft Regulatory Guide 000 Funds management: Establishing and registering a fund
- draft updated Regulatory Guide 132 Funds management: Compliance and oversight
- draft updated Regulatory Guide 133 Funds management and custodial services: Holding assets
- draft updated Regulatory Guide 134 Funds management: Constitutions
- draft updated Regulatory Guide 136 Funds management: Discretionary powers
- draft Regulatory Guide 000 Foreign passport funds.
These draft regulatory guides will help responsible entities of registered schemes, corporate directors and depositaries of CCIVs, passport fund operators, other AFS licensees involved in funds management, oversight entities and their advisers understand their obligations under the managed investments regime and the proposed new CCIV and Asia Region Funds Passport regimes.
On 24 November 2017, ASIC hosted a briefing for funds management industry participants. This session covered our proposed new guidance for CCIVs and passport funds, as well as an update on the changes for managed investment schemes.