Search Result
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You’ve just suffered a ‘cyber’ incident – What are the legal risks?
02 Apr 2024Ask Optus. Its 14-hour national outage on 8 November 2023 led to a Parliamentary inquiry, the resignation of its then CEO, and loss of trust across the market. While it is natural to focus on res
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Why your AML/CTF Program needs to be independently reviewed regularly
18 Feb 2025If you are a business that will be regulated in 2026 under Tranche 2 of the AML/CTF reforms, we can help you stay up to date as the reforms progress, provide guidance, training and resources to suppor
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Wholesale Client Eligibility – Sophisticated Investor and Individual Wealth Tests
25 Aug 2023In 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 the so
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Who’s in control? Changes of control to a licensed entity and your obligations
05 Jun 2025In this article, we examine the obligation of AFSL holders and credit licensees to determine whether there has been a change of control in their entity, and subsequently report any changes to ASIC.
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What’s the difference between a standard AML program and one that a financial adviser needs (also called a “special program”)?
16 Feb 2022If a business or entity provides one or more designated services (listed in section 6 of the AML/CTF Act) and is geographically linked to Australia, it will be required to comply with the obligations
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What is an Authorised Representative?
20 Aug 2020“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 inclu
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What is an AML/CTF Program and do I need a Risk Assessment?
08 Sep 2020Do 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 and if no e
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What happens when the applicant does not give consent?
15 Mar 2024The ASIC Corporations and Credit (Reference Checking and Information Sharing Protocol) Instrument 2021/429 (the Protocol) sets out the reference checking and information sharing requirements that appl
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What are the Liabilities of Directors of AFSL Holders?
18 Sep 2020When 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
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What are the compliance requirements for regulated managed investment schemes?
05 Sep 2023In our previous article, Managed investment schemes and when they must be registered, we looked at the definition of managed investment schemes, and what distinguishes a registered from an unregistere