The central objective of this review is to evaluate the adequacy and relevance of the existing regulatory structure, pinpoint regulatory gaps, and explore improvements to mitigate unwarranted financial risk exposure for investors.

The review is part of the Government unveiled plans for Treasury to conduct a review of the regulatory framework governing MIS, in the October 2022‑23 Federal Budget.

Focus of the MIS review

The review will focus on the following current regulation areas:

• criteria of investor’s wholesale client status
• responsible entities’ roles and obligations.

The criteria establishing an investor’s wholesale client status

The criteria for a wholesale client is currently under review. Chapter 7 of the Corporations Act 2001 contains several tests in relation to specific products.

Current thresholds for establishing wholesale investor status include:

• where initial amount paid by investor at time of investment is at least $500,000 or
• a qualified accountant provides a certificate which states that the client’s
  • net assets are equal to or exceed $2,500,000 or
  • gross income for the last two financial years is at least $250,000 per annum.

Responsible entities’ roles and obligations

A key focus area of the review is the governance of the scheme. Effective governance demands ongoing vigilance for transparency and accountability.

Ensure you are aligned with current standards and practices within the Australian financial sector. It is crutial to adapt governance practices to match evolving regulations through consistent regulatory monitoring, and seek guidance from legal and regulatory specialists.

You can find the announcement detailing the primary issues under review here.

Make sure you’re ready

Each MIS provider should assess the impact on their business. The outcome of the consultation could alter the type of license needed to maintain current distribution.

MIS providers are advised to consider reviewing the consultation paper and their investor thresholds. Each case is different, we can provide expert advice that is right for your business.

How SW can help

The SW team has deep financial services sector experience, and specialises in funds management. We can provide you with the right guidance to assess the regulatory changes and their impact to your business.

Contributors:

Gail Makone

James Serpell

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观看我们的家族办公室系列视频，了解我们可以如何帮助你保存财富，积蓄世代家业。

我们秉持开放的态度，以最优质的顾问满足您家族的各项需求，无论是本事务所内部的顾问，还是从国际业界聘请的外部专家顾问。 除了资产配置、架构、税务、银行业务、法务、移民和保险外，我们还应许多家族的需要，提供定制服务。

我们与背后的信永中和国际网络紧密互联，为客户提供全球一体化服务。 信永中和国际的总部位于香港，各成员所提供鉴证、商业咨询、企业投融资和税务咨询服务。 我们还是普安西提网络联盟的成员，联通和覆盖范围及于110多个国家，包括美国、欧洲、亚太和中东。

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• our long term view
• forming a partnership with our client
• engaging with complimentary services and advisors to provide the best advice for the client.

Our range of advisory and services include:

• annual, management & Statutory accounts
• asset management and investments
• banking
• bookkeeping and cashflow management
• establishing borrowings and lending through our Australian Credit Licence
• estate and succession planning
• mail and payroll services
• personal and specialist taxes and compliance
• philanthropic management
• property management
• secretarial and administration services.
• Share Registry and corporate secretarial services
• tax and corporate compliance
• Trust establishment and trusteeship.

For a full overview of our capabilities visit our dedicated Family Office website.

Our Migration section provides further information on our family office services to those with migration visas, including Significant Investor Visas.

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Holding our own Australian Financial Services Licence (AFSL), we have access to all products available on the market for which we receive research, conduct our own research or in many circumstances, both. Read more in our Financial Services Guide.

Daniel Minihan is an Authorised Representative of ShineWing Australia Wealth Pty Ltd trading as SW Wealth.

Australian Financial Services and Credit Licence No 236556

Level 10, 530 Collins Street, Melbourne VIC 3000 Australia

Wealth Privacy Policy

Wealth Compliant Policy

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Matthew has built a successful career in providing business and tax advice to high net wealth family group and leads our Family Office team. Matthew is passionate about philanthropic activities and works with his clients to assist them manage the financial and governance aspects of their grant making.

He also leads our Corporate Social Responsibility Committee, Co2. which engages with our staff, local communities and the wider world including our environment to have a positive impact.

Matthew’s experience includes:

• Managing tax and accounting requirement for clients
• Connecting his clients with a broad range of professionals who add value to their business interests, including stockbrokers and property agents
• Working closely with our Wealth Management team to enable a full service offering for our high net wealth families
• Holding directorships, trusteeships and secretarial positions in private companies and not-for-profits
• Succession and estate planning.

Matthew is a Partner of SW Audit and a Director of SW Accountants & Advisors Pty Ltd.

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Daren’s experience includes:

• providing advice to family owned and operated businesses
• acting as executive director for companies, trustees, and deceased estates
• advising property developers on significant joint ventures
• delivering tailored advice to individuals, businesses, and special purpose entities on a range of accounting, consulting, and tax issues
• sitting on advisory boards of family-owned businesses and property groups, including foreign owned entities
• being recognised as a thought leader within the property industry and a sought-after speaker.

Daren brings a well-rounded skill set to his client engagements, combining accounting and tax advice with strategic and commercial consulting. He plays a number of roles with his clients, including acting as executive director for companies, trustees, deceased estates, as well as advising property developers on significant joint ventures throughout the development process.

The offering to clients includes advice to personal, business, and special purpose entities on a range of accounting, consulting, and tax issues. Daren also advises a number of large, well-known private family groups.

Daren currently sits on the advisory boards of a number of property ownership and development companies, including foreign-owned entities. He has also authored a number of articles and publications within the property industry and has spoken at various commercial and technical property events.

Daren is a Partner of SW Audit and a Director of SW Accountants & Advisors Pty Ltd.

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He works with a broad spectrum of clients from small individuals to large private family groups to advise on cash flow, debt structuring, personal protection and retirement planning for individuals through to asset allocation, portfolio construction and investment selection for investors small and large.

Daniel provides clients with comprehensive financial services to get their entire financial house in order and keep it that way forever.

Daniel’s experience includes:

• Developing simple and complex financial strategies to help clients achieve their goals
• Providing investment and asset allocation advice to investors small and large
• Working with Trustees of Superannuation Funds on Regulatory Compliance matters
• Helping SME clients develop strategies to transition business wealth to personal wealth
• Acting as Executor/Trustee/RP for Estate’s and PAF’s
• Advising institutions on policy, asset allocation and investments

ShineWing Australia Wealth Pty Ltd trading as SW Wealth

Australian Financial Services Licence No 236556

Level 10, 530 Collins Street, Melbourne VIC 3000 Australia

Daniel is a Partner of SW Audit and a Director of SW Accountants & Advisors Pty Ltd.

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Over the years Colin has worked on a broad range of clients assisting with strategic and structuring advice, commercial property management, family office requirements and meeting clients day to day accounting and taxation needs.

His open and direct working style, including an ability to think outside the square has enabled Colin to develop strong and trusted relationships with a portfolio of loyal clients.

Colin’s experience includes:

• Accounting, bookkeeping and taxation services to Australian subsidiaries of overseas head entities.
• Representing clients in dealing with the Australian Taxation Office in relation to tax matters in Australia
• Coordinating due diligence on Australian business and property acquisitions by overseas investors
• Advising on business and tax structures for overseas investors.

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