Langton Clarke

Insights18 Mar 2026 By Langton Clarke, Aash Velhal and Patrick McMullin Trustees and responsible entities (REs) occupy a critical governance role under Australian trust law and the Corporations Act 2001 (Cth). Their obligations are both extensive and nuanced, reflecting fiduciary principles developed over centuries and adapted to the practical realities of modern managed investment schemes.

Insights18 Mar 2026 By Langton Clarke, Aash Velhal and Annabelle Duke At a glance The new Tranche 2 anti-money laundering and counter-terrorism financing (AML/CTF) regime in Australia captures several key groups in the property industry from 1 July 2026. This includes real estate agents, buyer’s and seller’s agents, property developers, vendor and buyer advocates, and potentially property fund managers when they provide one of the new ‘designated services’.

1. Enhance the regulatory framework for compliance Introduces stricter compliance plan content requirements; limits liability to material breaches; makes audit standards mandatory; requires ASIC notification of compliance committee member changes. Widespread deficiencies in compliance plans, generic content, inadequate audits, poor oversight of compliance committees. Improve scheme‑level governance, ensure compliance plans reflect actual risks, strengthen assurance and regulatory visibility. 2.