The Australian Securities & Investments Commission has remade relief allowing Australian Financial Services licensees to place client money in cash common funds. The new instrument continues the existing arrangements until Oct. 1, 2031, replacing the instrument scheduled to expire on Oct. 1, 2026. Following consultation on remaking the relief, ASIC determined that no additional conditions were necessary because it had identified no adverse information from its use. Client money held in cash common funds may be invested only in fixed interest securities and negotiable instruments.
Australian Securities & Investments Commission extends client money relief for cash common funds until 2031
The Australian Securities & Investments Commission has extended relief allowing Australian Financial Services licensees to place client money in cash common funds until Oct. 1, 2031. ASIC found no adverse information requiring additional conditions, while retaining limits that permit investment only in fixed interest securities and negotiable instruments.