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The Royal Commission and Wholesale Clients – A Missed Opportunity?
14 Feb 2019
David Court
PartnerThe continuing increase in retail client regulation over recent years (such as the FOFA reforms) and the increasing ease with which clients can meet the wholesale client eligibility tests has…...
Read moreRetail vs Wholesale Clients – Regulatory Concerns and Responses
23 Jan 2020
David Court
PartnerWhile there have been some changes to the wholesale client eligibility criteria since 2004, we appear to be reaching a point where a more fundamental reassessment of the distinction between…...
Read moreRG 132: Financial Services Compliance Systems For Wholesale Managed Funds
05 Aug 2020
David Court
PartnerIn July 2018 ASIC issued its Regulatory Guide 132: Funds Management: Compliance and Oversight (“RG 132”) which looks into what constitutes an effective and responsive compliance management system for a…...
Read moreAre changes coming to the wholesale client eligibility rules?
01 Feb 2022
David Court
PartnerIn a previous article we looked at various regulatory issues and concerns which have arisen with the current legal definitions of wholesale and retail clients under the Corporations Act 2001 (the "Act")…...
Read moreWholesale Client Eligibility – Sophisticated Investor and Individual Wealth Tests
25 Aug 2023
David Court
PartnerIn recent years, the issue of wholesale client eligibility has been attracting increased attention as an area in need of reform. Of particular interest are recent developments in relation to…...
Read moreIs the end coming for the Sophisticated Investor?
17 Jan 2025
David Court
PartnerThe distinction between wholesale and retail clients is a fundamental part of the financial services laws. The continuing increase in retail client regulation over recent years and the increasing…...
Read moreCertified Wholesale – SMSFs and Accountant’s Certificates
21 Jan 2025
David Court
PartnerOne of the more popular methods used to treat investors as wholesale clients is through the use of accountant's certificates. Financial advisers and accountants need to be aware of…...
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