In view of the current volatility in local and international markets caused by the COVID-19 outbreak, the Securities and Futures Commission (the SFC) has issued a circular aimed at management companies (Managers) and trustees and custodians of SFC-authorized funds (funds) reiterating best practices with which they are expected to comply,
On 10 March 2020, following extensive consultation with industry, the Australian Securities and Investments Commission (ASIC) released its new regulatory framework for foreign financial services providers (FFSPs). These new rules are critically important for foreign firms (including asset managers and funds, brokers, foreign banks and other offshore institutions) undertaking wholesale
The month of February 2020 has seen the passing of a number of bills implementing recommendations from the financial services Royal Commission, including measures strengthening the Australian Securities and Investments Commission’s (ASIC) licensing, search warrant and banning powers as well as reforms to protect consumers. February has also seen the welcoming of proposals
The months of December 2019 and January 2020 have proven to be a busy time for our Government and regulators, with significant changes and proposals for the funds and financial services sector. In particular, Treasury have released 17 bills in response to 22 recommendations made by Commissioner Hayne in the Royal Commission into Misconduct in
The recordings from our global asset management regulation webinar series are now available to watch on demand.
In this series, our financial services team explored the key issues and requirements firms should be considering when looking to launch an overseas fund in Europe, Asia Pacific, the United States and Canada.
Watch now:
In our latest asset management regulatory webinar, Michael Bunn discusses the use of Canadian investment funds by non-Canadian managers, including types of Canadian investment funds; structuring considerations; and the regulation of Canadian funds.
Previous webinars in our global asset management regulation series can be found on our Asset Management Regulation hub located on the
The SFC has identified a growing number of arrangements and transactions involving dubious private funds or discretionary accounts during recent inspections conducted on asset managers, raising concerns that asset managers are simply following investor’s instructions when structuring private funds or discretionary accounts and effecting transactions, and turning a blind eye to potential red flags.
The
On 4 October 2019, the Securities and Futures Commission (SFC) published the pro forma terms and conditions (the Terms and Conditions) applicable to licensed corporations managing a fund (or portion of a fund) that invests in virtual assets and meet the de minimis threshold [1] (Virtual Assets Fund Manager) .