ASIC freezes assets of another MIS | Australian Markets

The Australian Securities and Investments Fee (ASIC) has obtained court docket orders freezing the funds of one other Managed Funding Scheme (MIS), Falcon Capital Restricted, the First Guardian Grasp Fund and David Anderson.

The regulator stated that it had obtained interim Federal Court docket orders giving impact to freezing the property.

Falcon is the accountable entity for First Guardian and Anderson is a director of Falcon.

ASIC stated sought the orders to help shield investor funds whereas an investigation is constant.

The Federal Court docket orders restrain Falcon and Mr Anderson from:

• eradicating their property (together with the property of First Guardian) from Australia,
• promoting, charging, mortgaging, encumbering or in any other case coping with, disposing of and/or diminishing the worth of that property,
• incurring new liabilities, and
• withdrawing, transferring, disposing of or coping with money held in bank accounts during which Falcon or Mr Anderson have an curiosity.

The orders are subject to some restricted exceptions, together with to permit for the switch of particular property of First Guardian underneath an current sale settlement entered into by Falcon.

Falcon suspended the processing of functions and withdrawals from First Guardian on 27 Could 2024 subject to some restricted exceptions.