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As a credit licensee, can you sign the Annual Compliance Certificate?
18 Dec 2019If you are a credit licensee, you must lodge an annual compliance certificate with ASIC within 45 days of your licensing anniversary each year. Your licensing anniversary is the anniversary of the d
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Are you paying too much for your ASIC Industry Funding Levy?
04 Apr 2019ASIC has now issued levies for the 2017 – 2018 financial year. These invoices were due to be paid by 15 March 2019. Late payment penalties apply from 1 April 2019 and these are as 20% per an
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Are 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 Re
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Are changes coming to the wholesale client eligibility rules?
01 Feb 2022In a previous article we looked at various regulatory issues and concerns which have arisen with the current legal definitions of wholesale and retail clients under the Corporations Act 2001 (the "A
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APRA regulatory reporting for general insurance providers
17 Oct 2019Are you an AFSL holder and authorised to deal in general insurance? If so, you should be aware of your obligations to provide data to APRA every six months by lodging a Form 701. What is a Form 701?
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Anybody home? The importance of checking whether your corporate clients have been deregistered
17 Oct 2023There is no express obligation for a financial services provider to monitor its client lists for deregistered companies. However, the recent case of ASIC v Westpac [2022] FCA 515 has demon
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Annual Compliance Trends Survey Results Released
06 May 2025Holley Nethercote is excited to present our third Compliance Trends Survey Report. This survey was conducted in February 2025 across over 200 Australian financial services and Australian credit licenc
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All Over – the Business impact after COVID-19
21 Oct 2020We are all ‘over COVID’, but are we ‘all over’ the business law issues likely to arise when COVID-19 is all over? Our objective with Commercial Corner is to address some of the legal issues
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AFCA: A fair worry
08 Oct 2019When I was in my second or third year of law school, I remember having to read some EDR scheme decisions to answer the following question: “What role do considerations of fairness play in the EDR de
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AFCA receives its first report card
02 Mar 2022The Australian Financial Complaints Authority (“AFCA”) has received its first report card since it commenced operations on 1 November 2018. The legislation establishing AFCA required the Minist