Guidance needed on wholesale investor test for SMSFs, says SPAA

SPAA has welcomed the statement by ASIC regarding the “treatment of an SMSF as a wholesale or retail investor”. “It would appear that the announcement by ASIC on 8 August is to clarify the fact that the threshold to determine whether the trustee of an SMSF is a wholesale or retail investor has been reduced… Continue reading Guidance needed on wholesale investor test for SMSFs, says SPAA

ASIC alters stance on when an SMSF is a wholesale investor

ASIC has altered its stance on when it will consider an SMSF to be a wholesale investor. The issue of when a client is a retail or wholesale investor has been unclear for some years. Which is an important distinction given it determines the level of consumer protections, disclosure and access to some investments. The… Continue reading ASIC alters stance on when an SMSF is a wholesale investor