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Unlisted Funds new obligations for disclosure under the corporations law

By: admin|

Australia is moving closer to full compliance obligations in an effort to protect mums and dads investors from the issues that have arisen in the past. ASIC the regulator now has control over this vital area of investment in property funds, advice giving requirements for all authorised advisors relative to credit and investments and will eventually move to regulate the advice in investment property residential for starters and then move onto commercial in due course. This will be some time away yet as ASIC grapples to roll out all the new credit laws and requirements.

In regards to the disclosure obligations for the unlisted property fund sector managers new benchmarks are now required to provide full disclosure on all of the following areas;

*  GEARING –

*  INTEREST COVER POLICY –

*  BORROWINGS –

*  PORTFOLIO COMPOSITION-

* VALUATIONS ON COMPLETION AND AS IS NOW

* RELATED PARTY TRANSACTIONS

*DISTRIBUTIONS FROM WHERE

*  WHEN AND INVESTOR CAN WITHDRAW FROM A SCHEME

Given the worlds current financial crises and the uncertainty on countries defaulting on their debt obligations, Australians may yet take up their love of investing in property schemes and if they do this time around they will have a lot more protections in place. Question is will these new obligations on managers and schemes limit the new game to a chosen few only?

 


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