DomaCom concludes Federal Court actionBY KARREN VERGARA | TUESDAY, 25 SEP 2018 12:20PMFederal Court proceedings supported by DomaCom have concluded, allowing an SMSF to invest in DomaCom's fund even if a related party is a tenant in the underlying property. Related News |
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Shail Singh
LEAD OMBUDSMAN INVESTMENTS AND ADVICE
AUSTRALIAN FINANCIAL COMPLAINTS AUTHORITY
AUSTRALIAN FINANCIAL COMPLAINTS AUTHORITY
To be successful as Australian Financial Complaints Authority's (AFCA) lead ombudsman for investments and advice, one requires empathy, impartiality, and rationality. Shail Singh shares how he also uses legal and financial advice expertise to help consumers, small businesses, and member firms. Karren Vergara writes.
Correct. Based on the facts of THAT PARTICULAR CASE!
In any case, the investment was still considered an in house asset of the fund so not really all that useful in practice.
Also, if Aussiegolfa has been ordered to pay fees etc, and Domacom is set to pick these costs up (on Aussiegolfa's behalf) there may be a contribution cap concern arising for the members of the fund! Another sting in the tail perhaps?