Australian Financial Services Licensing (AFSL) Forum

Home Forums Australian Financial Services Licensing (AFSL) Forum Starting an Unregistered Investment Scheme as a Fund Manager

Viewing 2 posts - 1 through 2 (of 2 total)
  • Author
    Posts
  • #5380 Reply

    Jason
    Guest

    Hi All,

    Looking for some advice on starting an unregistered investment scheme. I will be the fund manager, trustee and custodian of the Investment fund and also looking to initially handle all of the administration. I have done hours of research and have come up with a list of steps to take, can anyone tell me if these are the correct steps or if I need to add in any steps? Any advice would be much appreciated.

    1.  Become an authorized representative of AFS Licensee with the correct authorities.

    2. Set up my funds management company as a proprietary company

    3. Set up the unit trust

    4. Raise Capital through wholesale investors and 2/12/20 exemption (2 million from 20 retail investors in a 12 month period) using an Information Memorandum.

    5. Operate as an unregistered fund for 3 years (50 or less investors)

    6. After 3 years of experience in this I can apply for my own AFSL and become a Responsible Manager along with a second Responsible Manager. At his stage I would also register the investment scheme and change my funds management company from a private company to a public company to allow for more than 50 investors. Through the AFSL I can also act as the responsible entity of the fund.

    7. After this I can market to both retail and wholesale investors via a PDS.

    From what I have found online this is what I have come up with, again any advice would be greatly appreciated.

    #5389 Reply

    David Court
    Member

    Hi Jason,

     

    We do admire your extensive and fairly detailed plan. However responding to your request involves giving you legal advice that we are not able to provide over this forum. We are happy for you to come in and discuss your plans with one of our lawyers. An initial one hour consultation will cost $660 (including GST).

     

    Please let me know if you would like to take up the opportunity.

     

    You can contact our Finanical Services Team if you would like further assistance

     

    Author: David Court (Partner).

    Co-contributor: Hugo Sasse (Law Clerk).

Viewing 2 posts - 1 through 2 (of 2 total)

Reply

Reply To: Starting an Unregistered Investment Scheme as a Fund Manager

Your information:


<a href="" title="" rel="" target=""> <blockquote cite=""> <code> <pre class=""> <em> <strong> <del datetime="" cite=""> <ins datetime="" cite=""> <ul> <ol start=""> <li> <img src="" border="" alt="" height="" width="">

  • Free answers to common Financial Services Regulation (FSR), Consumer Credit and AML/CTF issues.

    Click here to join our LinkedIn group for responsible managers and compliance professionals.
    joinUsOnLinkedIn
  • Training

    Regulatory Compliance Training for Directors, Responsible Managers and Compliance Staff

    View Courses

  • Legal Advice

    Review your AFSL or ACL disclosure documents, conduct a licensee audit and more…

    Get Legal Advice

  • Compliance support

    The HN Hub – an online platform built to support Responsible Managers and Compliance Staff

    More