La Trobe settles ASIC stop order snag on Aus credit fund
La Trobe Financial has informed its investment clients and partners that it has come to an agreement with the Australian Securities and Investments Commission (ASIC) that the interim stop orders on its La Trobe Australian Credit Fund be lifted.
In an email sighted by Financial Newswire sent on Wednesday afternoon, La Trobe Financial confirmed the interim stop orders concerning the 12 Month and 2 Year accounts of the Australian credit fund had been removed after it had “worked closely” with the corporate watchdog to “meet their requirements”.
The fund manager confirmed it had updated its Target Market Determinations (TMDs) – which were the subject of contention in the original statement ASIC made about the interim stop orders – and made them available online.
La Trobe Financial also confirmed it had no further update that the interim stop order placed on its US Private Credit Fund was to be lifted at this time.
According to a notice posted on the La Trobe Financial website, the La Trobe Direct investment platform was also affected by the interim stop orders and access has now been reinstated. The manager also told its clients that it is “fully aligned with ASIC’s actions to lift standards in the private credit industry as well as its view on the importance of the private credit sector to the Australian economy”.
I appreciate that we are stuck with the Government thievery that is the CSLR. The constant (and fair) argument from…
CLSR was meant to be the ‘last resort’, not the GoTo funding model that would unfairly burden honest business operators…
Unregulated MISs the base problem. Yet MIS remain out of CSLR ? And MIS remain largely Unregulated. WTF Corrupt Canberra
Exactly
Useless ASIC writes another report about excessive breach reporting where ASIC admit mass complaints about a crap crazy Red Tape…