ASIC have today announced that they will not be making any change to the MDA regulations in the immediate future.
While they had previously announced that draft regulations world be produced by April 2014, today they announced that no further action is planned in the immediate future.
Investment platform and fund services provider OneVue has announced the completion of the first $6.75 million of an $8 million capital raising program.
OneVue chief executive Connie Mckeage said the aim of the capital raising was to fund the business’ expansion post the acquisition of Computershare Fund Services and to create a stronger balance sheet for the group.
Summary of IMAP’s Recommendations
MDA Authorisations: IMAP believes that the MDA authorisations recognise functions actually performed by the MDA Operator including the creation of an AFSL condition for MDA operators which permits them to operate the MDA service only for retail clients who have concurrently become clients of a regulated platform.
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