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Product Governance

MDA Reporting Season: Is Your MDA Ready?

August 17, 2026

If your regulated platform handles annual MDA reporting, it’s easy to assume the job is done, but some MDA-specific obligations can still sit with the provider. This article explains where the reporting gap can arise and how to close it without duplicating the suitability review.

AML/CTF and MDA: Reform and Managed Discretionary Accounts

June 25, 2026

AML/CTF reform is a governance test for MDA providers. Firms must know who identifies clients, exercises discretion, monitors activity and evidences control across the full MDA value chain.
Professional investment management team representing AFSL licensing and managed investment scheme governance

Managed Investment Schemes and AFSL Requirements

May 30, 2026

Operating, issuing or promoting a managed investment scheme can trigger multiple AFSL obligations beyond simply registering a fund. This practical guide explains when registration is required, which AFSL authorisations may apply and how responsible entities and scheme operators can establish defensible governance, licensing and compliance frameworks.

FSC Standard 24 and the Quiet Expansion of APL Governance

May 23, 2026

FSC Standard 24 reframes APLs as governance tools tied to adviser conduct, client outcomes, and best-interest obligations.

FSC Standard 31 and the Rise of Platform Oversight

April 19, 2026

FSC Standard 31 shifts platform oversight from individual advice files to behavioural patterns across clients. For advisers and licensees, that means greater scrutiny on portfolios, product selection, and advice fee deductions and a clear expectation that decisions are consistent, evidenced, and defensible.

Designing IPS Rebalancing Rules for MDAs

December 16, 2025

Rebalancing Managed Discretionary Accounts (MDAs) is not merely an investment activity; it's a governance control that preserves client suitability, risk alignment and regulatory compliance. A well-designed Investment Policy Statement (IPS) sets clear, measurable rebalancing triggers, tolerance bands and liquidity rules that align with ASIC RG 179 expectations.

Why does your MDA need an Investment Policy Statement?

November 19, 2025

An Investment Policy Statement doesn’t replace your MDA governance – it makes it visible, testable and defensible. It turns discretionary decisions into an auditable story ASIC can follow from belief to trade.

Clarifying the MDA Audit: What AFSLs with MDA Authorisations Need to Know

August 18, 2025

Many AFSLs assume a platform audit covers their MDA obligations. It doesn’t: you still need an annual audit of your documented internal controls under RG 179—so get your processes in order and your auditor prepared.

MDA Boutique vs SMA High Street

August 4, 2025

For advisers prioritising flexibility, responsiveness, and client-specific strategies, MDAs offer a boutique alternative to the rigid scalability of SMAs—enabling real-time decisions and authentic portfolio personalisation.

Do You Really Need Discretion?

July 21, 2025

Discretion can streamline portfolio management—but only if it's fit for purpose and aligned with client needs. Efficiency alone isn't enough.

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