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READ MOREIllegal early access tipped to surge with market volatility
One industry lawyer has cautioned SMSF professionals to be “on guard” for increased incidents of illegal early access among trustees, since recent market volatility could see a repeat of the types of behaviour seen during the GFC.
Speaking to SMSF Adviser, Argyle Lawyers managing principal Peter Bobbin said the GFC caused many people to suffer personal lifestyle cash flow problems, with some trustees unable to resist illegally accessing their SMSF cash, particularly given the ease of accessibility.
Read the full story at SMSF Adviser.
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