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RG 132: Financial Services Compliance Systems For Wholesale Managed Funds
05 Aug 2020In 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 2020In 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 2020Since 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…...
Read moreCOVID-19 and Paying the Rent – Part 2 (the lock-down continues)
29 Jul 2020Read Part 1 to this blog: COVID-19 and Paying the Rent. Back in April of this year – which seems like an eternity ago – we provided some advice (in…...
Read moreBusiness Partnerships – What you should know
24 Jul 2020What is a partnership? A partnership is a business structure where two or more people enter into a relationship in order to carry on a business, with the mutual intention…...
Read moreAre you ‘fit and proper’ or only of ‘good fame and character’?
30 Jun 2020In March 2020, the requirements for obtaining and maintaining an Australian Financial Services Licence (AFSL) were amended by the Financial Sector Reform (Hayne Royal Commission Response—Stronger Regulators (2019 Measures)) Act…...
Read moreFACT SHEET: How to set up a Money Remitter (also known as a Money Transfer Operator or Payment Services Provider) Checklist
19 Jun 2020☐ Determine the characteristics of your remittance business Payment corridors and any other jurisdictions you will deal with Currencies you will exchange Customer types Whether your business offers only spot FX…...
Read moreCompliance – What is it good for?
29 May 2020Financial services licensees will be well aware that they are required to comply with the financial services laws and the conditions of their licence. They are also required to self-report…...
Read moreAFCA – so what is fair?
20 May 2020As I write this in May 2020, we are facing difficult times. We are grappling with a global pandemic caused by COVID-19. And, as we experienced during the global financial…...
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