Australian Regulator Suspends Holon's Crypto Funds Managed by Gemini

Australia's markets regulator has suspended three funds of Sydney-based asset manager GlobalHolon managed by crypto exchange gemini. By amitoj

The decision was taken by the Australian Securities and Investment Commission due to non-compliant target market determinations by Holon Investments.which describes the target customer for an investment product. ASIC said it is concerned that Holon has not appropriately considered the features and risks of the Funds in determining their target markets.

The regulator believes Holon's crypto funds are not suited to the wide target market defined in their TMDs, which includes investors ranging from potentially medium, high or very high risk and return profile.managed by the crypto exchange Gemini. "If the ASIC's concerns are not addressed in a timely manner, final stop orders will be placed on the funds," the press release said."Holon will have an opportunity to make submissions to ASIC before any final stop order is made," it added.

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