Home -
Original -
Main body -

WikiFX Express

Exness
EC Markets
TMGM
XM
FOREX.com
FXTM
AvaTrade
FXCM
IC Markets Global
Eightcap

Crypto News: $1 Trillion Managed Funds Fail Key Compliance Tests

WikiFX
| 2025-06-02 17:14

Abstract:ASIC finds $1 trillion in managed funds failing compliance, risking investor protection with weak oversight on design, dispute resolution, and reporting.

$1 Trillion Managed Funds Fail Key Compliance Tests.jpg

Australias financial watchdog, the Australian Securities and Investments Commission (ASIC), has sounded the alarm after finding serious compliance issues in the managed investment sector. This sector manages nearly $1 trillion in assets, and the problems could put investors at risk.

ASIC took a close look at 50 compliance plans tied to 1,471 funds. These funds account for 45% of all registered managed funds in Australia and nearly half of the sector‘s $2 trillion in total assets. The review zeroed in on three big rules: design and distribution obligations, internal dispute resolution processes, and requirements for reporting problems. These rules, rolled out or toughened in October 2021, are there to make sure funds work in investors’ best interests.

What they found was troubling. A lot of these plans were missing key pieces. The biggest problem was with design and distribution obligations, which check that financial products fit the people they‘re aimed at. Some plans didn’t even mention this, hinting that some fund managers havent updated their rules in almost four years. Other weak spots included handling investor complaints and reporting issues, both of which were poorly managed.

Australia asic new arrivals

ASIC Commissioner Alan Kirkland didn‘t hold back. “These plans show how fund managers follow the law, but many we checked didn’t cover important rules,” he said. He pointed out that some managers just copied plans from others, leaving their own funds without real oversight. Kirkland warned that skipping proper planning could lead to big trouble in this vital industry.

This managed investment sector is a cornerstone of Australias economy, looking after retirement savings and investments for millions. The compliance plans help ensure funds stick to the Corporations Act 2001, keeping everyday investors safe from harm. When those plans fall short, investors are left exposed, and the whole financial system could wobble.

ASIC is already reaching out to some fund managers to tackle these flaws and is even looking into possible law-breaking. Kirkland made it clear theres no excuse since guidance on good compliance plans has been around for years.

The watchdog isn‘t done yet. ASIC plans to keep watching compliance plans closely, going beyond the rules they checked this time. “We’ll keep an eye on the quality of these plans moving forward,” Kirkland said, pushing for stronger leadership in the industry.

These findings are a loud wake-up call for the managed investment world. With so many Australians depending on these funds for their future, the pressure is on. Fund managers need to step up fast to fix these holes and rebuild trust in their ability to protect investors. If they dont, the fallout could hurt both the industry and the people it serves.

Footer.jpg
Market NewsBreaking NewsCrypto MarketCryptocurrency

Read more

Revolut Expands into Latin America with Strategic Argentina Acquisition

Revolut acquires Banco Cetelem from BNP Paribas, marking its Argentina entry. This Revolut acquisition in Argentina signals a major Latin America expansion move.

Original 2025-06-27 17:13

Citibank Sued in $20M Romance Scam Tied to Fraudulent Transfers

Citibank faces a lawsuit over a $20M romance scam. Plaintiff alleges the bank enabled fraud by failing to block suspicious transfers.

Original 2025-06-27 16:36

Gold Price Expected to Surge 20% by 2026, Says Bank of America

Discover how gold prices are expected to rise by 20% by 2026 amid weak dollar index and US fiscal deficit concerns, in this story.

Original 2025-06-27 15:41

Gold Rate Today in Mumbai and Other Updates on Your Fingertips

After correcting for two straight days, gold rebounded on June 26, 2025, across 24 Karat and 22 Karat categories in Mumbai, the financial capital of India. Check out the latest price update.

Original 2025-06-26 18:41

WikiFX Express

Exness
EC Markets
TMGM
XM
FOREX.com
FXTM
AvaTrade
FXCM
IC Markets Global
Eightcap

WikiFX Broker

FXTM

FXTM

Regulated
DBG Markets

DBG Markets

Regulated
XM

XM

Regulated
EBC

EBC

Regulated
Exness

Exness

Regulated
FOREX.com

FOREX.com

Regulated
FXTM

FXTM

Regulated
DBG Markets

DBG Markets

Regulated
XM

XM

Regulated
EBC

EBC

Regulated
Exness

Exness

Regulated
FOREX.com

FOREX.com

Regulated

WikiFX Broker

FXTM

FXTM

Regulated
DBG Markets

DBG Markets

Regulated
XM

XM

Regulated
EBC

EBC

Regulated
Exness

Exness

Regulated
FOREX.com

FOREX.com

Regulated
FXTM

FXTM

Regulated
DBG Markets

DBG Markets

Regulated
XM

XM

Regulated
EBC

EBC

Regulated
Exness

Exness

Regulated
FOREX.com

FOREX.com

Regulated

Latest News

The Shame of Being Scammed: Don't Ever Stay Silent

WikiFX
2025-06-27 10:00

Citibank Sued in $20M Romance Scam Tied to Fraudulent Transfers

WikiFX
2025-06-27 16:36

Treasury yields inch higher as investors await the Fed's preferred inflation print

WikiFX
2025-06-27 10:24

Capital.com Launches $1 Million EU Client Insurance to Enhance Investor Safety

WikiFX
2025-06-27 16:07

The five most investment-risky brokers in Malaysia

WikiFX
2025-06-27 16:20

Think Before You Trade! Unlicensed Brokers List Inside

WikiFX
2025-06-27 18:55

IC Markets Sponsors AEL Limassol, Football Club Until 2027

WikiFX
2025-06-27 19:03

5 Reasons to Stay Away from Core Prime Markets

WikiFX
2025-06-27 18:59

Core inflation rate rose to 2.7% in May, more than expected, Feds preferred gauge shows

WikiFX
2025-06-27 20:35

Core inflation rate rose to 2.7% in May, more than expected, Fed's preferred gauge shows

WikiFX
2025-06-27 13:35

Rate Calc

USD
CNY
Current Rate: 0

Amount

USD

Available

CNY
Calculate

You may also like

Morning Sky Forex

Morning Sky Forex

Able World

Able World

Karen International

Karen International

TEMO

TEMO

BKG

BKG

TANDEM

TANDEM

TIGER

TIGER

MagKing

MagKing

MYfintec

MYfintec

Mez Capital

Mez Capital