After several years of consultation, ASIC has finally released its new policy in relation to the provision of Managed Discretionary Account (“MDA”) services.
ASIC has replaced Class Order [CO 04/194] Managed Discretionary Accounts (“the Class Order”) with ASIC Corporations (Managed Discretionary Accounts) Instrument 2016/968 (“the Instrument”), and also issued a revised Regulatory Guide 179: Managed discretionary accounts (“RG 179”).
So, what does this mean for MDA Operators and MDA Advisers?
