RG 129 Business introduction or matching services
Issued 30 September 2022
This guide sets out ASIC’s guidance on the regulation of business introduction or matching services that involve the offer of, or invitation to subscribe for or buy, interests in managed investment schemes. These services identify potential investors for issuers or sellers by circulating information about investment opportunities, often through publications and meetings.
The guide explains the effect of ASIC Corporations (Business Introduction) Instrument 2022/805 (ASIC Instrument 2022/805), which provides relief to those involved in business introduction services from the fundraising, financial product disclosure, hawking and advertising requirements in the Corporations Act 2001 (Corporations Act).
ASIC considers that this relief remains useful for registered managed investment schemes with fewer than 20 members seeking to raise up to $5 million.
Relief from 1 October 2022
On 1 October 2022, ASIC relief under Class Order [CO 02/273] Business introduction services was replaced by ASIC Instrument 2022/805, which:
- extends the relief for interests in a managed investment scheme until 1 April 2025
- terminates the relief for the offer, issue or recommendation of Chapter 6D securities (including Chapter 2L debentures), and
- clarifies that the exemptions do not affect a person’s obligations under Pt 7.8A of the Corporations Act where they would otherwise apply.
Persons who wish to rely on the relief in ASIC Instrument 2022/805 from 1 October 2022 must notify ASIC that they are relying on the relief. A Notification to rely on ASIC Corporations (Business Introduction Services) Instrument 2022/805 should be submitted through the ASIC Regulatory Portal.
Contact ASIC on 1300 300 630 (or +61 3 5177 3988 if dialling from overseas) for general information and assistance.