ASIC report on LICs/LITs

Behind the scenes ASIC is looking closely at the LIC sector, although I think they are more concerned with the fee aspect for poor performing big LICs like LSF, not so much the minnows like the pirates, although I'm sure it had an influence. Judging by the comments in the article one aspect of concern is the fact that these funds can lock in a management fee stream with little recourse for shareholders, all you can do is sell, which you can't if its suspended.

https://www.copyright link/companies/financial-services/asic-warns-treasurer-on-risky-funds-20191217-p53ksp