Articles

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RG 132: Financial Services Compliance Systems For Wholesale Managed Funds

05 Aug 2020
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David Court

Partner

In July 2018 ASIC issued its Regulatory Guide 132: Funds Management: Compliance and Oversight (“RG 132”) which looks into what constitutes an effective and responsive compliance management system for a…...

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Ban on conflicted remuneration for mortgage brokers and intermediaries – delayed but on its way

03 Aug 2020
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Rachel Erlich

Senior Associate

In February 2020, the Financial Sector Reform (Hayne Royal Commission Response – Protecting Consumers (2019 Measures) Act 2020 (Act) passed both Houses of Parliament and received Royal Assent. The Act…...

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Credit licensees, lend us your ear on the new best interests obligations for the mortgage broking sector

30 Jul 2020
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Zoe Higgins

Special Counsel

Since 2009, credit licensees and their representatives have grappled with responsible lending obligations.  Following the passage of legislation in response to recommendations of the Royal Commission, mortgage brokers will now…...

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COVID-19 and Paying the Rent – Part 2 (the lock-down continues)

29 Jul 2020
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Tim Dixon

Special Counsel

Read Part 1 to this blog: COVID-19 and Paying the Rent. Back in April of this year – which seems like an eternity ago – we provided some advice (in…...

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Business Partnerships – What you should know

24 Jul 2020
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Alexa Bowditch

Lawyer

What is a partnership? A partnership is a business structure where two or more people enter into a relationship in order to carry on a business, with the mutual intention…...

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Design and Distribution Obligations – deferred but not forgotten. What do you need to do to prepare for the DDO regime?

23 Jul 2020
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Michael Mavromatis

Special Counsel

The design and distribution obligations (DDO) may have been deferred for six months, but they’re not going away. Product issuers and distributors still need to prepare for the commencement of…...

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Are you ‘fit and proper’ or only of ‘good fame and character’?

30 Jun 2020
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Jamie Munton

Lawyer

In March this year the requirements for obtaining and maintaining an Australian Financial Services Licence (AFSL) were amended by the Financial Sector Reform (Hayne Royal Commission Response—Stronger Regulators (2019 Measures))…...

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FACT SHEET: How to set up a Money Remitter (also known as a Money Transfer Operator or Payment Services Provider) Checklist

19 Jun 2020
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Alexa Bowditch

Lawyer

☐ Determine the characteristics of your remittance business Payment corridors and any other jurisdictions you will deal with Currencies you will exchange Customer types Whether your business offers only spot FX…...

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Compliance – What is it good for?

29 May 2020
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David Court

Partner

Financial services licensees will be well aware that they are required to comply with the financial services laws and the conditions of their licence.  They are also required to self-report…...

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