Hedge Funds – Page 4 – Global Investment Law Watch

Australia: Finally, a new fund vehicle

May 06 2022

On 1 July 2022 Australia will finally get a new fund vehicle, the corporate collective investment vehicle (CCIV).

Historically, Australian funds have been established as unit trusts or, in the case of certain venture capital funds, limited partnerships. The CCIV is a corporate structure that is intended to be more internationally recognisable than the trust-based fund structure as it is similar to the equivalent structure in other key fund jurisdictions such as the United Kingdom, Cayman Islands, Singapore and Hong Kong.

Australia: Financial Adviser News

Feb 16 2022

By: Jim Bulling

Review of the Quality of Financial Advice

In December 2021, the Australian Treasury published the Draft Terms of Reference to the Review of the Quality of Financial Advice (Review). The Review takes up a number of recommendations of the Hayne Royal Commission and seeks to achieve the goal of providing retail investors access to high quality, affordable, and accessible financial advice. Amongst other areas, the Review will investigate whether regulatory compliance obligations can be streamlined and simplified to reduce cost and remove duplication. Additionally, the Review will consider whether the safe harbour provision for the duty of financial advice providers to act in the best interests of their clients pursuant to section 961B of the Corporations Act 2001 (Cth) is in line with Commissioner Hayne’s recommendation that “unless there is a clear justification for retaining that provision, it should be repealed.”

Australia: A (new) Reason to Invest in Aussie Funds

Feb 11 2022

By: Jim Bulling and Cathy Ma

Legislation Passes Parliament

The Australian Federal Government passed the long-awaited Corporate Collective Investment Vehicle Framework and Other Measures Bill 2021 on 10 February 2022. The new regulatory and tax framework for Corporate Collective Investment Vehicles (CCIV) will commence on 1 July 2022.

This reform is a welcome step forward for the Australian funds management industry and is aimed at increasing the competitiveness and familiarity of Australian investment offerings to offshore investors.

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