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A bit over a year ago ASIC issued ASIC Corporations (Managed Discretionary Account Services) Instrument 2016/968 and Regulatory Guide 179 which regulates the conditions under which managed discretionary account services (MDA services) can be provided.

What is the difference between all these confusing acronyms we hear when investigating managed account solutions?

The difference, once you strip out the common letters "M" for “managed” and "A" for “account” are the following;