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AML/CTF FAQs for current Reporting Entities
15 Sep 2025
Naomi Fink
Special CounselI am already a reporting entity enrolled with AUSTRAC. Do I need to update my AML/CTF program? If so, when do I need to do it by? Yes. You will…...
Read moreWholesale Client Eligibility – Sophisticated Investor and Individual Wealth Tests
08 Sep 2025
David Court
PartnerIn recent years, the issue of wholesale client eligibility has been attracting increased attention as an area in need of reform. Of particular interest are recent developments in relation to…...
Read moreRetail vs Wholesale Clients – Regulatory Concerns and Responses
06 Sep 2025
David Court
PartnerWhile there have been some changes to the wholesale client eligibility criteria since the FSR regime commenced in 2004, there has been little recent appetite from regulators or the Government…...
Read moreHow to stay out of trouble? Key risks and lessons for Responsible Managers
01 Sep 2025
Ellie Khor
AssociateUnlike a director or officer, a Responsible Manager (“RM”) is not a legal concept. The term does not exist in the Corporations Act 2001 (“the Act”). It is a tool…...
Read moreUnprecedented wake-up call for AML/CTF in pubs & clubs: AUSTRAC sues Mounties
11 Aug 2025
Anthony Jensen
Special CounselKey takeaways: First AUSTRAC civil penalty proceeding brought against a pubs & clubs business, after ~5 years of putting the industry on notice Case stems from alleged failure to properly…...
Read moreBuy Now Pay Later reforms have commenced: what does this mean for you?
04 Aug 2025
Katherine Temple
Special CounselBuy Now Pay Later (BNPL) providers are now regulated under the National Consumer Credit Protection Act 2009 (National Credit Act).[1] So, what do these reforms mean for the BNPL industry?…...
Read moreMission Impossible? Cybersecurity and Privacy for AFS Licensees
04 Aug 2025
Tali Borowick
Law GraduateWe are now over halfway into 2025, and the important mission (should you choose to accept) continues to linger: how does your financial services firm manage its cybersecurity and privacy…...
Read moreBan on conflicted remuneration for mortgage brokers and intermediaries – here to stay
21 Jul 2025
Rachel Erlich
Special CounselIn February 2020, the Financial Sector Reform (Hayne Royal Commission Response – Protecting Consumers (2019 Measures) Act 2020 (Act) passed both Houses of Parliament and received Royal Assent. The Act…...
Read moreFACT SHEET: The AFSL Variation Process
07 Jul 2025
Frank Varga
Head of LicensingHow do I apply to vary an AFS licence? The application process is completed through ASIC’s Regulatory Portal, where you will be asked whether the application is to vary licence…...
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