March 15, 2024

ASIC keeps identity of cash fund marketers secret

Ten fund managers wrist-slapped for labelling their products in a misleading way told ASIC that disclosing their identity could harm the relationship.

Mayfair 101

Followers 37.2K

Australian Financial Review
ASIC sprang into action in response to the proliferation of funds such as Mayfair Platinum
Mayfair 101
And yet Mayfair Platinum wasn't a fund. Could they not even get this right?
Misleading
Mistaken
Clarification
Unlock FREE access to Media.com
Enter your email address for access and updates

Media.com will not share your information with third parties. By submitting this form you agree to our Privacy Policy. You can change your cookie settings on our Cookies page
Australian Financial Review
ASIC keeps identity of cash fund marketers secret
Mayfair 101
If one of those secret funds was the IPO Wealth Fund, it would mean that ASIC and Vasco potentially conspired to collapse the fund to the detriment of 181 Australians. This would be an interesting...
Clarification

Mayfair 101

Melbourne, Australia

Mayfair 101 is an investment group which was targeted by the Australian Securities & Investments Commission in 2020 on a misconceived basis. At the time 570 Australians had subscribed for $211 million of debt instruments offered by the group. This triggered 20+ legal proceedings, hundreds of millions of dollars of damage, and left Mayfair 101's lenders without payments for nearly 4 years. Mayfair 101 is committed to protecting its clients against the mistaken actions of the regulator.

Connections 37.2K
Likes 96.8K