The Bank of Queensland seems unable to avoid further fallout from the collapse of investment fund Wickham Securities and the subsequent loss of investors' funds. Only a year after paying out A$17 million to settle class actions over the Storm Financial debacle, BoQ finds itself in a potentially much larger tangle - one that is all of its own making, if ASIC's allegations prove correct. The case this time dates back to late 2012 and early 2013, when Wickham Securities Limited and a group of related companies associated with former financial planner Bradley Sherwin collapsed, owing investors almost $60 million.   Many of the missing funds were routed through Money Market Deposit Accounts, held by Sherwin and managed by BOQ's agent, DDH Graham Pty Ltd. Earlier this year, Sherwin and Wickham's chief executive, Garth Robertson, were charged with over 30 criminal offences  (primarily fraud and dishonestly breaching director duties) in relation to their roles in the Sherwin Group of companies. Trials in relation to those charges have not yet taken place.While investigating the collapse of Wickham, ASIC uncovered further information that led it to question the role played by Bank of Queensland and the MMD accounts in facilitating the scam. ASIC was particularly concerned over the quality of the checks and balances in BoQ's system -and asserted that the superannuation funds should not have been transferrable out of the MMD accounts merely on the word of a financial planner.Rather, said ASIC, the funds should only have been moved into certain specified accounts. Even then, transfer documents signed by the account holders should have been provided for each transaction.ASIC suggested that BoQ should have been aware of this, and should have known better. This prompted BoQ to take court action against ASIC, trying to force the issue of the legal interpretation of how the MMD account should have been run.However, BoQ discontinued the action a week ahead of the court hearing, which had been set down for this week.ASIC seems to have lost patience with BoQ in the meantime, and announced that it had written to the clients of Sherwin Financial Planners Pty Ltd and DIY Superannuation Services Pty Ltd advising of its concerns in relation to the processing of the transactions via the Money Market Deposit Accounts that were held by with BOQ and managed by the BOQ's agent, DDH Graham Pty Ltd.ASIC's latest letter, made public this week, informs the Sherwin Group clients that it is investigating the operation of the Money Market Accounts held by Sherwin Group clients, and this will look at whether BOQ or DDH Graham processed transactions when they should not have. "The investigation is ongoing," ASIC noted.ASIC also reminded any former clients of the Sherwin group that they may wish to make a claim for compensation for financial loss - and, if so, they "may need to take prompt steps" as time limitations would apply. "If a claim is not brought in a court proceeding in advance of the expiry of any time limitation then