Australian Securities and Investments Commission - 14-191MR Statement on wholesale and retail investors and SMSFs

Log in / Sign up. If a financial service does not relate to a superannuation product, the general test for determining whether the trustee is a retail or wholesale client applies under the Corporations Act. Given ongoing legal uncertainty about when a financial service relates to a superannuation product, ASIC has reviewed its interpretation of when the trustee of a superannuation fund will be classified as a retail client or a wholesale client and withdrawn QFS 150.

Source: http://media.australia.gov.au/notify/click.cgi?url=http%3A%2F%2Fwww.asic.gov.au%2Fasic%2Fasic.nsf%2Fbyheadline%2F14-191MR%2BStatement%2Bon%2Bwholesale%2Band%2Bretail%2Binvestors%2Band%2BSMSFs%3FopenDocument&collection=releases&rank=27&auth=s7O56HIWo2HBf6R9hWOnxA

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