EUR/USD 1.05718
0.059%
Gold 1848.20
-0.891%
Oil 89.941
-1.093%
USD/JPY 149.432
0.091%
GBP/USD 1.21990
-0.034%
GBP/JPY 182.297
0.059%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
The Atlanta Feds GDPNow model predicts U.S. GDP in the third quarter to be 4.9%, the same as previously expected.The Reserve Bank of India has extended the deadline for exchanging 2,000 rupee notes to October 7. Previously, the Reserve Bank of India suddenly announced on May 19 that it would withdraw 2,000 rupee banknotes from the circulation market from that day and immediately stop issuing banknotes of this denomination.According to the Ukrainian National News Agency: Ilya Yevlash, head of the press service of the Eastern Group of the Ukrainian Armed Forces, said that the Russian army has resumed offensive operations in the Liman-Kupyansk area. Especially in the past day, the Russian army tried to break through the Ukrainian armys defense twice, but failed and suffered heavy losses, and gave up the attack.The Indian Meteorological Department predicts that the northwest monsoon in India from October to December will be normal.According to the Financial Times: British digital banking giant Revolut is in discussions with British regulators about dangerous accounts.

The Australian Authority Suspends Orders For Two Permanent Investment Funds

Charlie Brooks

Nov 25, 2022 14:27

13.png


Friday, the Australian securities regulator ordered a unit of asset management firm Perpetual Ltd to temporarily halt promoting or delivering two products to individual investors due to elevated market risks.


Perpetual is aiming to conclude a deal with EQT-owned Barings Private Equity Asia (BPEA) and Regal Partners, while being compelled by the court to launch its own takeover proposal for rival Pendal Group.


The Australian Securities & Investments Commission (ASIC) has ordered Perpetual Investment Management's Perpetual Pure Microcap Fund and Perpetual Geared Australian Share Fund to halt distributing interest and giving advice to retail investors for 21 days.


According to the regulator, the portfolios of the funds are exposed to extreme market volatility and carry substantial risks, increasing the potential that investors would sustain enormous losses.


"ASIC issued the interim measures to protect retail investors from engaging in funds that may not be appropriate for their financial objectives, circumstances, or needs," the regulator noted.


"The Australian Securities and Investments Commission is concerned that Perpetual did not appropriately consider these features and risks when choosing the wide target markets for the products."


The government expects Perpetual to take "immediate measures" to ensure compliance.


Reuters requested a response from Perpetual but did not receive a prompt reply.

Suggestion