Blue Sky Alternative Investments Ltd. admitted that it received a notice from Australia's securities regulator to produce information on the company's ledgers.
The company said July 2 that it received a section 33 notice from the Australian Securities and Investments Commission, or ASIC, on June 13, requesting information for the purpose of ensuring compliance with the Corporations Act in the period from Jan. 1, 2016 to June 12.
The notice was marked by the regulator as "treated as in confidence," and should not be interpreted as an indication that the company, or persons related to the company, violated laws.
The company was responding to media speculation, specifically a July 1 report from The Australian Financial Review's Rear Window column, about the regulator's request for information. ASIC reportedly asked Blue Sky to consider its order "carefully". The asset manager had not reported this regulatory scrutiny to its shareholders.
Blue Sky noted that it offered full assistance to ASIC and complete access to all relevant materials, including the company's fee-earning assets under management and investment performance. It also reported breaches relating to its Blue Sky Private Equity 2010 Institutional Trust.