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Design and Distribution Obligations – deferred but not forgotten. What do you need to do to prepare for the DDO regime?
23 Jul 2020
Michael Mavromatis
Special CounselThe design and distribution obligations (DDO) may have been deferred for six months, but they’re not going away. Product issuers and distributors still need to prepare for the commencement of…...
Read moreAre you ‘fit and proper’ or only of ‘good fame and character’?
30 Jun 2020
Jamie Munton
LawyerIn March this year 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))…...
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
Alexa Bowditch
Lawyer☐ 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 2020
David Court
PartnerFinancial 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 2020
Rachel Erlich
Senior AssociateAs 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…...
Read moreFACT SHEET: Setting up a Cryptocurrency (Virtual Asset) Exchange Checklist
11 May 2020
Alexa Bowditch
LawyerBefore you set up a cryptocurrency exchange... ☐ Determine the structure of your cryptocurrency exchange: Crypto to fiat or crypto to crypto Virtual assets to be exchanged Broker or market…...
Read moreFACT SHEET: Top 10 Tips for a Successful AFSL Application
08 May 2020
Frank Varga
Head of LicensingHere are our top 10 tips for a successful AFSL application. Organisational competency, as demonstrated by your Responsible Manager, will make or break your application. Get good legal advice at…...
Read moreFACT SHEET: AFSL Costs
08 May 2020
Frank Varga
Head of LicensingSo, you think you’re ready to apply for your own AFSL. What are the costs should you be prepared for? Preparing You can attempt to prepare and submit your own…...
Read moreFACT SHEET: The AFSL Application Process
08 May 2020
Frank Varga
Head of LicensingBefore applying for a licence, you need to know: 1. Why are you applying? “Branding” alone won’t cut it. You need to convince ASIC that you need a licence. You…...
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