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Australia: Eagerly Awaits Foreign Financial Service Providers’ Legislation

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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