On 23 June 2011, the Parliamentary Joint Committee on Corporations and Financial Services resolved to inquire, and report by 24 November 2011, into the collapse of Trio Capital and any other related matters, with particular reference to:
1. the type of investment vehicles, funds and other products involved in Trio Capital, and the relevant regulatory regime;
2. the points of failure in relation to products or advice;
3. the relationship between the SMSF arrangements and regulatory coverage;
4. the role of ASIC in monitoring Trio Capital and any subsequent pursuit of directors, advisors and fund managers;
5. the APRA regulatory relationship to Trio Capital and the use of SMSF;
6. the access to compensation and insurance for Trio Capital investors including in circumstances of fraud;
7. the issue of fraud (in particular international fraud) in the collapse of Trio Capital and regulatory implications;
8. whether there are adequate protections against fraud for those who invest through self-managed superannuation funds as opposed to other investment vehicles;
9. the appropriateness of information and advice provided to consumers, and how the interests of consumers can best be served in regulated and unregulated environments;
10. the role of ratings agencies and research organisations in product promotion and confidence; and
11. any other matters relevant to the collapse of Trio Capital in the further improvement of the financial services sector and consumer protection.
For further information, contact: Committee Secretary
Parliamentary Joint Committee on Corporations and Financial Services
PO Box 6100
Parliament House
Canberra ACT 2600
Australia