Category: Uncategorized

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AUSTRALIA: ASIC releases update on recent enforcement action in Australia and guidance for target market determinations
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Australia: Eagerly Awaits Foreign Financial Service Providers’ Legislation

AUSTRALIA: ASIC releases update on recent enforcement action in Australia and guidance for target market determinations

By Jim Bulling and Anabelle Weinberg

1.         ASIC enforcement and regulatory update reveals areas of focus

ASIC has published their enforcement and regulatory update outlining the key actions taken between 1 July and 30 September 2022 (REP 753).

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Australia: Eagerly Awaits Foreign Financial Service Providers’ Legislation

By Jim Bulling

In February this year we provided an update on the introduction of the draft legislation providing relief to Foreign Financial Services Providers (FFSPs) in Australia.

As we discussed back in February the draft legislative pack provided three significant potential exemptions for FFSPs namely:

  • Professional Investor Exemption
  • Comparable Regulator Exemption
  • Fit and Proper Person Test Exemption
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