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Why Referencing the Regulator in Marketing Material is Risky Business

Posted on September 25th, 2017 by Sophie Gerber in ASICCompliance WorkFinancial Services and Credit Industries
Entities that operate in the financial services and credit industries will often reference the Australian Securities and Investments Commission ('ASIC') or use the ASIC logo in marketing material in a ...

Applications for Crowd Funding Licences to Open on 29 September 2017

Posted on September 25th, 2017 by Sophie Gerber in AFSLsASICLicensing
Crowd-sourced funding (“CSF”) is a financial service that start-ups and small businesses use to raise funds, generally from a large number of investors that invest small amounts of money. Austr ...

PI Insurance: Are you appropriately covered? Insights from ASIC’s review

Posted on September 19th, 2017 by Sophie Gerber in AFSL ComplianceASIC
The Australian Securities and Investments Commission (‘ASIC’) has recently completed a targeted review of the Professional Indemnity (‘PI’) insurance held by small Australian Financial Service ...

Digital Currency will no Longer Fly Under the Radar – Proposed Reforms of the AML/CTF Regime

Posted on September 7th, 2017 by Sophie Gerber in AML/CTFAUSTRACFintech
The rise in the popularity of digital currency has caused worldwide concern as governments grapple with how it should be regulated.  The proposed regulation requires a balancing act to deter individu ...

Digital Adviser: How to Operate Under the Current Regulatory Regime?

Posted on September 4th, 2017 by Sophie Gerber in ASICFOS
Introduction Over the past decade, the Australian financial services industry has seen the emergence of digital advisers. There is now a strong digital advice presence in the Australian financial ser ...

Q&A: APRA’s Tightening of Residential Mortgage Lending Practices

Posted on September 2nd, 2017 by Sophie Gerber in ACL ComplianceFinancial Services and Credit IndustriesLoans
Introduction Welcome to Kaplan Professional’s Q&A series. To provide an overview of APRA’s tightening of residential mortgage lending practices and the practical implications of the changes f ...

Providing Tax Advice to Clients under an AFSL? You Need to be Registered with the TPB

Posted on August 29th, 2017 by Sophie Gerber in AFSLsAuthorised RepresentativesFinance Industry
All AFSL holders and Corporate Authorised Representatives (CARs) who provide tax advice to retail and wholesale clients are required to be registered with the Tax Practitioners Board (TPB). This means ...

Material Errors: The Importance of Disclosure for Margin FX and CFD Providers

Posted on August 27th, 2017 by Sophie Gerber in FOSFXOTC Derivatives
A recent case example released by FOS highlights the importance of making sure your PDS and Client Agreement (T&Cs) cover material errors in pricing and the ability for providers to cancel trades ...

ASIC’s Latest Enforcement Report: The key focus areas to be aware of

Posted on August 25th, 2017 by Sophie Gerber in AFSL ComplianceAML/CTFASIC
Digital disruption, cyber threats and inappropriate targeting of retail clients continue to guide ASIC’s approach to enforcement. During the period 1 January to 30 June 2017, ASIC: Commenced ...

Limited AFSLs – A Year On

Posted on July 28th, 2017 by Sophie Gerber in AFSLsLicensingOngoing Compliance
It has been a little over a year since the transitional arrangements for accountants providing advice to their clients on SMSFs ended. The limited Australian Financial Services (AFS) Licence regime is ...