Australian Securities & Investments Commission (ASIC) Suspends Licence (Till 7/8/26) of Australia $2 Billion Asset Manager Prime Value Asset Management for Failure to Meet Statutory Audit & Financial Report Obligations for 2024 & 2025
17th July 2026 | Hong Kong
Australian Securities & Investments Commission (ASIC) has suspended the licence (Till 7/8/26) of Australia asset manager Prime Value Asset Management ($2 billion AUM for failure to meet statutory audit & financial report obligations for 2024 & 2025. Announcement (17/7/26): “ASIC has suspended the Australian financial services (AFS) licence of Prime Value Asset Management Limited (Prime Value) until 7 August 2026. The AFS licence was suspended because Prime Value failed to meet its statutory audit and financial reporting lodgement obligations for the company for the financial years ending 2024 and 2025.ASIC also found Prime Value had previously failed to meet financial resource requirements and lodge compliance plan audit reports for some of its retail schemes, however these breaches have been rectified. The conditions of the suspension mean Prime Value cannot issue interests in its managed investment schemes (Schemes) to new investors but can continue to provide financial services reasonably necessary for, or incidental to, the day-to-day operation or management of the Schemes and reinvestment of income distributions by existing investors. Prime Value is required to continue to meet its licence obligations while the AFS licence is suspended. Prime Value may apply to the Administrative Review Tribunal for a review of ASIC’s decision. Background – Prime Value holds AFS licence number 222055 and is the responsible entity of eight registered managed investment schemes. These include: 1) Prime Value Diversified High Income Plus Fund 2) Prime Value Diversified High Income Fund 3) Prime Value Enhance Income Fund 4) Prime Value Emerging Opportunities Fund 5) Prime Value Microcap Fund 6) Prime Value Opportunities Fund 7) Prime Value Equity Income Fund, and 8) Prime Value Growth Fund … … Prime Value is also the trustee of 53 unregistered managed investment schemes and provides a wholesale managed discretionary account service.”
“ Australian Securities & Investments Commission (ASIC) Suspends Licence (Till 7/8/26) of Australia $2 Billion Asset Manager Prime Value Asset Management for Failure to Meet Statutory Audit & Financial Report Obligations for 2024 & 2025 “
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Australian Securities & Investments Commission (ASIC) Suspends Licence (Till 7/8/26) of Australia $2 Billion Asset Manager Prime Value Asset Management for Failure to Meet Statutory Audit & Financial Report Obligations for 2024 & 2025
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