The Australian Securities and Investments Commission (ASIC) has filed an urgent application with the Federal Court, seeking asset preservation orders and the appointment of receivers for Australian Fiduciaries Ltd and a network of associated entities. The regulator’s move aims to safeguard the interests of nearly 600 retail investors, who are believed to have poured approximately AUD 160 million into various managed investment schemes since 2020-primarily through their self-managed super funds (SMSFs).
What Triggered the Action?
ASIC’s concerns revolve around several red flags:
- Failure to file audited financial statements for FY2024 and H1 FY2025
- Lack of investor communication since May 2024
- Suspected mismanagement of conflicts of interest and investment disclosures
- Unclear valuations and potential value loss in scheme assets
Australian Fiduciaries halted new investments into the schemes in September 2023 but has since failed to maintain adequate transparency or compliance with its obligations.
Investor Trust and Regulatory Oversight
For brokers, fund managers, and prop firms watching from afar, this case reinforces the importance of compliance, valuation transparency, and regular investor communication. As regulatory bodies globally tighten oversight, particularly in investor-facing businesses, lapses in governance can quickly escalate into large-scale interventions.
The ASIC investigation is ongoing, and further details, including a full list of affected entities, can be found on its official Australian Fiduciaries webpage.
