Search Result
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Mismanaging client data can cost you! Lessons to be learned from Equifax
30 Jun 2019Note: This article was reviewed in 2025 Late 2018, UK based Equifax Ltd was issued with a penalty of 500,000GBP by the Information Commissioner (UK) (the Commissioner) in relation to a privacy br
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Managed investment schemes (MIS) and when they must be registered
01 Sep 2023The term “managed investment scheme” is often used but not always well understood. You might have come across the term while planning a new business venture which will involve attracting investo
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Licensing 101: The Fit and Proper requirement
10 Feb 2025When applying for an AFSL, applicants must be prepared to meet the fit and proper requirement – a test that assesses competence, financial soundness, legal compliance and moral character. ASIC wil
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Liability of a Responsible Manager – Who’s responsible when things go wrong?
06 Aug 2021The Responsible Manager (RM) of a licensee plays a key role under the financial services and credit licensing regimes. However, many RMs are concerned as to their responsibilities and lia
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Launching a new financial product in 2025? Don’t forget to do these things…
04 Nov 2024Launching a new financial product has never been easy, but today, the list of factors you need to take into account makes it a more complex exercise than ever before. Wind the clock back to before
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Keeping your AML/CTF Program up-to-date
01 Apr 2021Outsourcing KYC obligations If you are bound by the Australian Anti-Money Laundering and Counter-Terrorism Financing (AML/CTF) legislation[1], (that is, you are a “reporting entity”), you must ha
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It’s time to dust off your conflicts of interest policy
27 Jan 2025In 2018, ASIC launched a crusade against poor financial advice. ASIC looked at how some of Australia’s larger banking and financial services institutions dealt with conflicts of interest
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Is the end coming for the Sophisticated Investor?
17 Jan 2025The distinction between wholesale and retail clients is a fundamental part of the financial services laws. The continuing increase in retail client regulation over recent years and the inc
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Is AI a threat or opportunity for Australian Financial Services and Australian Credit Licensees, today?
01 Jun 2024For the time poor readers, here’s the TL;DR. Artificial Intelligence (AI) presents unique regulatory and other risks that need to be managed. The law in Australia today applies to AI, but regula
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Insurance commission consent – conflicted remuneration escape hatch
25 Nov 2024Licensees who provide financial product advice in relation to general insurance, life insurance or consumer credit insurance will be familiar with the exemption from conflicted remuneration for commis