Schemes challenged

THE Australian Securities and Investments Commission has announced its revised policy on mortgage investment schemes.

The final policy statement confirms the ASIC’s general policy relating to mortgage investment schemes.

However, ASIC director of regulatory policy Malcolm Rodgers said the commission had learnt some lessons about how that policy applied in practice.

“Our final policy reflects those lessons and also clears up some difficult questions that arose during the transition of mortgage practices to the new regime,” Mr Rodgers said.

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