Business
ASIC’s Karen Chester hails ‘comprehensive’ Mayfair court win – The Australian Financial Review
ASIC deputy chairman Karen Chester says fund managers have been put on notice after fixed income promoter Mayfair Platinum’s marketing was judged to be misleading….
If its going to cause harm, we are going to come after you and the courts have said that we will win when we do.
Mayfair 101 and Mayfair Platinum have promoted investments as alternatives to bank term deposits, offering investors a rate of between 3.65 per cent and 6.5 per cent for terms of between three months and six years.
But investors that committed $130 million to those schemes, in addition to $80 million in Mayfairs earlier IPO Wealth fund, face the prospect of a total wipeout as the schemes…
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