ASIC extends the relief provided for foreign collective investment schemes for two years
ASIC has extended Class Order [CO 04/526] Foreign collective investment schemes ([CO 04/526]) for two years. This class order was due to expire (sunset) on 1 April 2017.
[CO 04/526] provides relief for collective investment schemes from the requirement to register as a managed investment scheme or obtain an Australian financial services licence where the relevant overseas regulatory regime delivers regulatory outcomes sufficiently equivalent to our own regulatory regime.
ASIC Corporations (Repeal and Transitional) Instrument 2017/271 extends the relief in [CO 04/526] in the same form for two years.
ASIC has extended this relief for two years so that we can review and consult on the policy settings of our relief in light of other regulatory developments, such as the Government’s announcement of the introduction of new collective investment vehicles, and implementation of the Asia Region Funds Passport regime.
ASIC will consult publicly on its relief for foreign collective investment schemes before 1 April 2019.
Source: ASIC
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