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AUTs may need to be licenced to continue operating
Thursday 26th of February 2004
Good Returns understands that Australian Unit Trusts (AUTs) must be licensed under the Financial Services Reform (FSR) laws which come into effect on March 10 otherwise they are declared as illegal offerings.Enquiries show a number of New Zealand-based funds are either unaware of this or haven’t done anything about getting a licence.
Australian Investment and Securities Commission FS...
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