ASIC has released Consultation Paper 296 Funds management which seeks feedback on its proposed new guidance in relation to managed investment schemes, corporate collective investment vehicles and passport funds under the Asia Region Funds Passport, including the following 6 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; and
  • draft Regulatory Guide 000 Foreign passport funds.

ASIC will host a briefing for funds management industry participants on the proposed new guidance on 24 November 2017.

Submissions on the draft new and updated guidance are due by 8 December 2017.

For further details, see the ASIC website and ASIC media release dated 26 October 2017.