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What’s the difference between a standard AML program and one that a financial adviser needs (also called a “special program”)?
16 Feb 2022
Naomi Fink
Special CounselIf a business or entity provides one or more designated services (listed in section 6 of the AML/CTF Act) and is geographically linked to Australia, it will be required to…...
Read moreAFCA receives its first report card
02 Mar 2022
Rachel Erlich
Special CounselThe Australian Financial Complaints Authority (“AFCA”) has received its first report card since it commenced operations on 1 November 2018. The legislation establishing AFCA required the Minister (for Superannuation, Financial…...
Read moreConsumer Data Right access expanded to ‘trusted advisers’
05 Apr 2022
Katherine Temple
Senior AssociateImportant changes have been made to the Consumer Data Right (CDR) Rules that enable ‘trusted advisers’ to access consumer data via the CDR regime, including suitably accredited financial advisers, lawyers,…...
Read moreCrypto regulation on the horizon: Treasury’s new consultation paper on crypto asset secondary service providers
27 Apr 2022
Paul Derham
Managing PartnerLast month, Treasury released a Consultation Paper outlining the Government’s proposed approach to regulating crypto assets. The Consultation Paper sets out options for a licensing and regulatory regime for ‘crypto…...
Read moreCCIV – A new structure for collective investments
02 May 2022
David Court
PartnerFrom 1 July 2022, a new type of investment product – the Corporate Collective Investment Vehicle (CCIV) – will be able to be established by Australian fund managers. In this…...
Read moreDon’t tick off the regulator: the role of the humble checklist
08 Jun 2022
Zoe Higgins
Previously a Special Counsel at Holley NethercoteMisleading and deceptive advertising has been an enduring area of focus for ASIC – and a minefield for the licensees involved. We often remind our clients that ASIC regularly monitors…...
Read moreFinfluencers, referrers and discussing financial products online
08 Aug 2022
Michael Mavromatis
PartnerIn this article, we take a look at the key issues arising when AFS licensees work with referrers and finfluencers to distribute their products or services. Who are referrers and…...
Read moreASIC cracks down on financial advisers and licensees
09 Aug 2022
Josh Wigney
AssociateFinancial advisers and their licensees, take note! ASIC is following up on advisers who haven’t yet completed the financial adviser exam. For most advisers, the thought of the financial…...
Read moreTriple Beef Patties – the key ingredient to time critical advice
09 Sep 2022
Clarisse Berenger
Previously a Lawyer at Holley NethercoteProviding a client with the necessary disclosures in time critical cases can be likened to a fast-food, rush hour drive-through order, where a customer is served up with the…...
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