मैगज़्टर गोल्ड के साथ असीमित हो जाओ
9,500 से अधिक पत्रिकाओं, समाचार पत्रों और प्रीमियम कहानियों तक असीमित पहुंच प्राप्त करें सिर्फ
कोशिश गोल्ड - मुक्त
ASIC freezes assets of FMPE
Financial Standard
|September 08, 2025
The Federal Court imposed urgent interim orders to freeze the assets of First Mutual Private Equity (FMPE) and its sole director Gregory Raymond Cotton, with ASIC concerned more than $50 million of investor funds is at risk.
ASIC is investigating FMPE and Cotton, alleging $53 million intended for investment may “have not been used for that purpose and may be at risk.”
Financial Standard understands the funds run by FMPE were being sold by a group of unlicensed representatives, claiming they could do so under exemptions in section 708 of the Corporations Act. Financial Standard understands this was reported to ASIC in June 2024.
ASIC sought these orders on an urgent basis to safeguard investor funds while the investigation is underway, it said.
यह कहानी Financial Standard के September 08, 2025 संस्करण से ली गई है।
हजारों चुनिंदा प्रीमियम कहानियों और 9,500 से अधिक पत्रिकाओं और समाचार पत्रों तक पहुंचने के लिए मैगज़्टर गोल्ड की सदस्यता लें।
क्या आप पहले से ही ग्राहक हैं? साइन इन करें
Financial Standard से और कहानियाँ
Financial Standard
Underinsurance remains a quiet crisis in Australian life insurance
As the financial landscape shifts, more Australians are taking greater ownership in their financial futures with a rising interest in life insurance. NobleOak’s latest Life Insurance Pulse Report reveals 60% of Australians now hold some form of life cover - an encouraging shift from 55% just a year ago.
2 mins
September 08, 2025
Financial Standard
ATO lashes dentists pushing early super access
The Australian Taxation Office (ATO) has warned of an increase in “dodgy advice\" about accessing superannuation savings for noncritical medical procedures, like cosmetic dental work.
2 mins
September 08, 2025
Financial Standard
Cover confusion is costly
Are your clients at risk?
3 mins
September 08, 2025
Financial Standard
Liquidity issues hurting Healthbridge investors
Healthbridge Capital investors have been locked out of their money since March amid a liquidity crunch as corporate regulator ASIC stays mum about its knowledge or investigation into the potential collapse of another managed investment scheme.
1 mins
September 08, 2025
Financial Standard
ASIC freezes assets of FMPE
The Federal Court imposed urgent interim orders to freeze the assets of First Mutual Private Equity (FMPE) and its sole director Gregory Raymond Cotton, with ASIC concerned more than $50 million of investor funds is at risk.
1 mins
September 08, 2025
Financial Standard
Raymond Mason remembered
Raymond “Chipp\" Mason, the founder of Legg Mason, has passed away at the age of 88.
1 min
September 08, 2025
Financial Standard
Funds SA pushes for efficiencies with AI targets
Targets around the use of artificial intelligence (AI) will be baked into the performance plans of every staff member at the centralised investment manager.
2 mins
September 08, 2025
Financial Standard
Net Zero Banking Alliance on pause
Following an exodus of members, the Net Zero Banking Alliance is pausing activities.
1 min
September 08, 2025
Financial Standard
Chalmers says tax reform is coming
Treasurer Jim Chalmers has confirmed the government intends to cut taxes but also that broader tax reform is necessary.
1 min
September 08, 2025
Financial Standard
Former adviser extradited
A former financial adviser accused of stealing millions from clients will finally face court after being extradited back to Australia from New Zealand.
1 min
September 08, 2025
Listen
Translate
Change font size