Australia

Topic: Regulatory Compliance

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Updated briefing slides: Doing business in the EU

We have recently updated our briefing slides on the measures that Member States are implementing for a no-deal Brexit. In particular, the slides include a new section on Luxembourg and updates to the following jurisdictions: Germany, France, Italy, Poland, Finland and Spain. The briefing slides can be accessed here. Our Brexit Pathfinder hub is a … Continue Reading

New webinar recording – Brexit: the final countdown?

The recording from our latest 40 minute briefing webinar is now available. In this webinar our London team discuss what they are seeing in the market as firms make their preparations for a no deal Brexit. They also cover the PRA and FCA temporary transitional relief powers and ask the question of what legal and … Continue Reading

What do ASIC’s proposals mean for foreign financial services providers?

Introduction As noted in our earlier update, ASIC has released its updated proposals for the licensing relief available to foreign financial services providers (FFSPs) servicing wholesale clients in Australia, with the release of Consultation Paper 315. In summary, ASIC has proposed to: extend the expiry of the sufficient equivalence relief and limited connection relief until … Continue Reading

Financial services monthly wrap up – May 2019

The May issue of the financial services monthly wrap up is now available. In this issue we report on: ASIC releases market integrity report for 1 July to 31 December 2018; ASIC releases guidance on ICOs and crypto-assets; ASIC invites public consultation in relation to complaints handling standards of financial institutions; ASIC Annual Forum 2019; … Continue Reading

Consumer Data Right and Open Banking: Government moves forward on legislation

The Australian Treasury has recently released draft legislation[1] with respect to Consumer Data Right (CDR) for a second round of public consultation.  Under the proposed CDR regime, businesses in certain sectors of the economy will be compelled to provide consumers (individuals and business customers) with access to particular data, including their transactions, usage and product … Continue Reading

New AUSTRAC Compliance Report format for 2018

AUSTRAC has released a new format for reporting entities to submit their annual compliance report (Compliance Report).  This new compliance reporting format comes as a result of AUSTRAC’s reforms to their previous Compliance Report requirements which were suspended for the 2017 reporting period, and is designed so that reporting entities are required to provide more … Continue Reading
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