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What are the Liabilities of Directors of AFSL Holders?
18 Sep 2020
David Court
PartnerWhen considering regulatory compliance and enforcement in the financial services industry, it is common to focus on the entity that holds the Australian Financial Services Licence (AFSL) and the large…...
Read moreWhat is an AML/CTF Program and do I need a Risk Assessment?
08 Sep 2020
Naomi Fink
Senior AssociateDo I need an AML/CTF Program? Yes - if you are a “reporting entity” and you provide a “designated service” in connection with Australia that meets the “geographical link” test…...
Read moreHow Legal are you Corporate Authorised Representative / Authorised Representative Agreements? Take the Quiz
03 Sep 2020
Tim Dixon
Special CounselIn October 2016, we published a brief article entitled “Is your Standard Form Contract bullet proof?”. That article was prepared immediately prior to the changes to the Unfair Contracts regime…...
Read moreHigh Court to provide clarity on the meaning of Personal and General Financial Product advice
27 Aug 2020
Samantha Hills
Senior AssociateThe High Court of Australia is set to provide clarity as to when the line will be crossed between the giving of general financial product advice and the giving of…...
Read moreWhat is an Authorised Representative?
20 Aug 2020
Grant Holley
Managing Partner“What’s in a name?” A fair bit when it comes to the term ‘representative’ under our Australian Financial Services licensing regime. The Act defines the term ‘representative’ as including Authorised…...
Read moreBuying a Financial Services Business – Tips & Traps
19 Aug 2020
Tim Dixon
Special CounselIs there an opportunity for you to buy a Corporate Authorised Representative (CAR) business? Or even an Australian Financial Services Licensee (AFSL)? Most CARs and AFSLs are operated via a…...
Read moreRG 132: Financial Services Compliance Systems For Wholesale Managed Funds
05 Aug 2020
David Court
PartnerIn July 2018 ASIC issued its Regulatory Guide 132: Funds Management: Compliance and Oversight (“RG 132”) which looks into what constitutes an effective and responsive compliance management system for a…...
Read moreBan on conflicted remuneration for mortgage brokers and intermediaries – delayed but on its way
03 Aug 2020
Rachel Erlich
Senior AssociateIn 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 moreCredit licensees, lend us your ear on the new best interests obligations for the mortgage broking sector
30 Jul 2020
Zoe Higgins
Special CounselSince 2009, credit licensees and their representatives have grappled with responsible lending obligations. Following the passage of legislation in response to recommendations of the Royal Commission, mortgage brokers will now…...
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