Scheme Property arrangements

20 Dec 2012, ASIC released a consultation paper on proposed changes to Regulatory Guide 133 Managed investments: Scheme property arrangements (existing RG 133), together with a draft updated RG 133.

Proposed content requirements in client agreements include that the custodian provides an indemnity to the responsible entity and has adequate arrangements to ensure it will report to ASIC if it suspects that its clients may have failed to report breaches to ASIC.

See the ASIC website for more details Consultation Paper 197 Holding scheme property and other assets (CP 197 including draft updated RG 133), feedback requested by 28th Feb 2013.

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