Multi-million dollar property investment schemes could be subject to tougher oversight after the launch of a surprise inquiry into the managed investment sector.
Budget papers show Treasury has been given $2.7 million to conduct both its review of the Reserve Bank of Australia, and a previously unannounced review into managed investment schemes.
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Michael Read is the Financial Review's economics correspondent, reporting from the federal press gallery at Parliament House. He was previously an economist at the Reserve Bank of Australia and at UBS. Connect with Michael on Twitter. Email Michael at michael.read@afr.com
