Topic: Financial advice

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ASIC consults on its proposal to repeal and replace the ASIC class orders for Foreign Financial Services Providers with modified licensing regime

ASIC has released CP 301, a consultation paper which proposes a modified licensing regime (in place of the current FFSP relief available for FFSPs in certain jurisdictions) for foreign financial services providers carrying on a financial services business in Australia, with submissions due by 31 July 2018. Background In 2003, ASIC issued class order relief … Continue Reading

ASIC releases guidance on Crowd-Sourced Funding Intermediary Licencing

It is an exciting time for Australian equity market participants with a new crowd-sourced funding (CSF) regime due to commence on Friday 29 September 2017.  CSF, in essence, involves raising funds, usually through an online intermediary, from a large number of people who each make relatively small financial contributions. Australia’s new regime, introduced in Pt … Continue Reading

Annual Financial Institution Symposium

Norton Rose Fulbright is pleased to offer you a rare opportunity to hear from some of the leading voices in risk and disruption. We will be hosting our annual Financial Institutions Symposium in our Sydney office on Thursday 27 October 2016. Discussion will focus on current ‘Risks & Disruptors’ in the global technology and regulatory … Continue Reading

Product suitability obligation and intervention powers to be fast-tracked: Government responds to calls for Royal Commission into the banks

In response to Opposition calls for a Royal Commission into the banking sector, the Australian Government has announced a $127 million reform package aimed at increasing the powers of Australia’s corporate watchdog, ASIC. A key component of that package will be the accelerated implementation of two key recommendations of the Financial System Inquiry: an obligation on … Continue Reading
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