07
July
2020
|
10:44
Australia/Sydney

Operating a managed investment scheme during COVID-19

Summary
  • ASIC is providing responsible entities with clarity on regulatory issues arsing from the COVID-19 pandemic.
  • Responsible entities may now submit some documents electronically.
  • The deadline for entities to lodge financial reports has been extended.

We know that responsible entities of managed investment schemes are finding it more challenging than usual to operate their businesses as staff work remotely due to COVID-19.

To provide responsible entities with more clarity on regulatory issues relevant to running a managed investment scheme during this time, ASIC has published frequently asked questions (FAQs). We will continue to add to these questions as issues arise.

The FAQs cover what responsible entities need to do when lodging documents, including what documents can be submitted electronically, whether electronic signatures may be used and how to submit applications for relief. We have also extended the deadline for listed and unlisted entities to lodge financial reports.

ASIC also recently reminded responsible entities of managed investment schemes about their fundamental duties and legal obligations to members as they face the market volatility, disruption and other challenges associated with COVID-19.

Boilerplate

ASIC is Australia’s corporate, markets and financial services regulator.