Federal Court orders Australian Unity Funds Management to pay $7 million penalty for failing to confirm product suitability for investors

26-011MR

civil penalty30 Jan 2026Penalty $7.13M

Respondent

Australian Unity Funds Management Limited

Facts

The Federal Court has ordered Australian Unity Funds Management Limited (Australian Unity) to pay a $7.125 million pecuniary penalty for breaching design and distribution obligations (DDO) by failing to confirm the suitability of one of its products for retail investors.

Outcome

ASIC civil penalty of $7,125,000 — Australian Unity Funds Management Limited (2026-01-30), for breaching design and distribution obligations as responsible entity of the Australian Unity Select Income Fund. See the ASIC source for the full terms.

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Read the source

https://www.asic.gov.au/about-asic/news-centre/find-a-media-release/2026-releases/26-011mr-federal-court-orders-australian-unity-funds-management-to-pay-7-million-penalty-for-failing-to-confirm-product-suitability-for-investors

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