News & Knowledge
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Knowledge
Criminal conviction for promoting an investment without an AFSL demonstrates what can happen when you ignore the law
MARQ Trustees write about a NSW criminal conviction serving as a reminder about the consequences of acting without an AFSL.
Knowledge
Do I need an AFSL if I raise money?
Usually, yes. The financial services rules were introduced to regulate the raising of money and promote transparency and accountability in financial transactions. They generally apply to anyone who is raising money by whatever means.
Glossary and Terminology
Knowledge
18th April 2024
This article provides a list of terms and definitions related to wholesale funds management in Australia.
Cyber training and cyber insurance: why both matter
Knowledge
6th March 2026
MARQ Trustees writes about how cybersecurity is now a core governance responsibility for investment managers and trustees. MARQ Trustees highlights that the best approach combines practical cyber training, documented processes, and cyber insurance to ensure your organisation meets its AFS licence obligations and demonstrates a defensible, well‑governed risk management framework.
When should Investment Capital be called?
Knowledge
27th February 2026
The timing of investor capital contributions is a critical lever for fund performance. Whether you utilise upfront payments, staged tranches, or committed capital, investor capital influences everything from "cash drag" to the investor’s realised return profile (or IRR). MARQ Trustees explores the three primary approaches to aligning capital flows with your investment strategy.
Preparing Authorised Representatives to engage investors
Knowledge
24th February 2026
MARQ Trustees provides specialised onboarding for Authorised Representatives engaging with investors. Our program equips ARs with the regulatory understanding and practical tools needed to communicate with investors effectively.
Why performance fee provisions must align across all fund documents
Knowledge
18th February 2026
MARQ Trustees writes about the importance of ensuring performance fees are aligned across the Information Memorandum, the Investment Management Agreement and the financial model. To avoid misalignment, these three components must be viewed as a single system rather than separate tasks performed in isolation. If the disclosure, the legal drafting and the model differ by even a small degree, the fee output will be wrong.
No AFSL – $14 million in penalties
Knowledge
10th February 2026
MARQ Trustees writes about the Full Federal Court’s decision in the BPS Financial case, in which a company was found to have issued and promoted an investment product without an AFSL and also having engaged in misleading and deceptive conduct. The judge said that the company “engaged in serious and unlawful misconduct”. The decision once again reinforces the serious consequences of acting without an AFSL.
MARQ Trustees provides AFSL services to Lowe Living’s LGH Investment Fund #18
Clients
7th October 2025
MARQ Trustees is providing AFSL services to Lowe Living’s LGH Investment Fund #18, for their Marella development in Hampton.
Beware directors and professional advisors – personal liability can await those involved in raising capital in a non-compliant way
Knowledge
16th September 2025
A recent Federal Court case highlights the significant personal risks for individuals involved in raising capital without an AFSL and also for those involved in preparing misleading investment documents.
Marketing material for wholesale offers – the misleading and deceptive conduct laws still apply
Knowledge
12th August 2025
MARQ Trustees writes about a recent Federal Court decision involving Mayfair 101, which highlights that prohibitions against misleading and deceptive conduct can apply to marketing materials used in wholesale investment offers, and shows how those involved in producing them can be held liable.
New AFSL authorisation reflects growing demand for carbon fund expertise
News
20th July 2025
MARQ Trustees is pleased to confirm that our Australian Financial Services Licence (AFSL) has been varied to authorise us to advise on and deal in Australian carbon credit units and eligible international emissions units.
Celebrating 10 years of MARQ Trustees: from one single asset property fund to facilitating $2.9B of FUM
News
14th July 2025
In 2015, MARQ Trustees was issued its Australian Financial Services Licence (AFSL). Ten years on, with an outstanding team and trusted partners, we look forward with the same authenticity of purpose that brought us here.
Navigating new horizons in property: 2025 PFA Conference
News
6th May 2025
MARQ Trustees’ Managing Director, Andrew Patrick, joined leading property fund figures at the 2025 Property Funds Association (PFA) Conference on the Gold Coast
Six and a half year ban for property developer for promoting property investments without an AFSL
Knowledge
20th March 2025
MARQ Trustees writes about ASIC’s ban of Kingdom Developments Group director, for offering investment in property developments without an AFSL (Australian Financial Services Licence).
Can I accept foreign “wholesale” investors into my fund?
Knowledge
13th March 2025
A common question we get asked by Investment Managers is “Can I accept foreign investors into my fund”? In this article, we write about the rules for foreign investment into Australian wholesale funds.
Parliamentary Committee leaves wholesale investor test alone
News
18th February 2025
In a great outcome for our clients and for the broader industry, the Federal Parliamentary Joint Committee on Corporations and Financial Services (Joint Committee) has decided against recommending an increase to the current wholesale investor test financial thresholds in Australia.
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