It is proposed the SPV, with lawyers it presently retains, will generate fees for the provision of services to (perhaps) both Off-shore Litigation Funders AND class action members.
Moreover, retail investors ‘joining’ a class action, it is expected, shall be deemed under regulation to be consumers of financial services and therefore will require ‘advice’.
The AFSL licensee and the Corporate Authorised Representative through the SPV, it is proposed, will provide an avenue to manage delivery of this advice (on a fee for service basis), through the SPV’s lawyers, to class action claimants (deemed to be retail investors). NB: Some class-actions could have hundreds or thousands of members – fee income may be highly material and development of this revenue stream is a high priority.
Discussions by the SPV and its lawyers with offshore (and some onshore) Litigation Funders suggests strong interest in such services for a fee payable to the SPV and the lawyers we work with.
View Busifund’s Corporate Authorised Representative of Sapien: click link
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