Structures
Over the past few months, there has been some fine-tuning of the CCIV Regulatory Framework. Here is an overview and links to the changes. The word “officer” in relation to the CCIV means a director, receiver liquidator or trustee. LINK. The registration of a CCIV cannot be transferred. LINK. Compulsory acquisition is only for listed […]
In 2016 the budget announced that a couple of regulatory frameworks would be introduced. One was for CCIVs an anacronym for Corporate Collective Investment Vehicles and the other was for limited partnership vehicles. As this news channel has communicated the CCIV was introduced on July 1st this year. However, limited partnership vehicles are not to […]
Polar 993 has recently established its first CCIV. You can read more here! Some points from their article are: CCIV is being recognised by investors here and abroad Australia has opened its door to foreign investors the CCIV is a state-of-the-art solution Overseas fund managers love this structure
The thrust for CCIV initially came from Treasury. They were striving to increase the amount of foreign investment in Australia. However, the CCIV is more universal. The following article by McMahon Clarke details the following CCIVs are increasing the attractiveness and competitive ability of Australia Selling the Managed Investment Scheme is not easy internationally The […]
An article published in the Financial Standard reports that MSC Trustees has received the authorisation to operate a retail and a wholesale CCIV. MSC Trustees are a professional trustee firm and it is reported that they are the first to be approved to operate CCIVs. You can read more about them and their new license […]
An article in the Australian Financial Review finishes with the words … “In time, the new regime could prove to be a trust killer”. This seems to be the general feeling but many people have written that the CCIV will be a slow burn until financial advisors and platforms are fully conversant with the new […]
Voluntary Deregistration of a Sub-fund Today ASIC added a new form for the sub-fund of a CCIV. Form 5210. The purpose of this form is for the voluntary deregistration of a sub-fund that is attached to a particular CCIV. To deregister a sub-fund from a CCIV, it must not have any assets or liabilities, and […]
A good article on this subject has been posted by Sarah Murray of Sophie GraceCompliance & Legal Specialists here!
For fund services wanting to have a CCIV retail authority, they are required to have at least 50% of their Board of Directors as independents. To achieve this, they are appointing Directors for CCIV authority. One example is MSC Trustees. In this news item, they detail the steps they are taking to get their CCIV […]
The fairly complex area of tokenising securities, shares and stocks is made a bit more understandable in this CCIV and Tokenisation article by Paul Niederer. You can find the article here! There is also another interesting diagram that shows the related parties and platforms between the regulator and the blockchain. Go here to learn more […]