Sophie Grace Compliance & Legal Specialists

Sophie Grace assists a variety of businesses on a daily basis with all stages of obtaining an Australian Financial Services Licence (AFSL). We provide three standard service offerings and can create a package to best suit your business’ needs.

1. Full Service AFSL Application;
2. Templates for your AFSL Application; and
3. Review of your AFSL Application.

Sophie Grace works with numerous businesses across the financial services industry. Some examples include the following:

• Fund Managers;
• Fintechs;
• Brokers (e.g. carbon, forex, securities);
• Financial Planners; and
• Accountants.

The basic steps you need to follow when obtaining an AFSL are:

1. Determine the authorisations needed to operate your business;
2. Choose your Responsible Manager(s);
3. Draft the Application Documents for ASIC;
4. Prepare a Compliance Program; and
5. Organise Ongoing Compliance Support.

Read more about the AFSL application process and requirements.

Sophie Grace is able to provide ongoing compliance solutions and assist with external compliance reviews in order to ensure AFSL holders are complying with the relevant legislative and regulatory requirements of being a licensee.

If you would like to obtain further information or assistance regarding an AFSL, please contact Sophie Grace directly.

Sophie Grace is equipped to assist your business engaged in credit activities to meet its obligations under the national consumer credit laws. Businesses engaging in the following credit activities are required to hold an Australian Credit Licence (ACL):

• Credit Providers (Lenders and Lessors);
• Finance Brokers;
• Mortgage Managers or Aggregators; and
• Other credit intermediaries.

We provide three standard service offerings and can create a package to best suit your business’ needs:

1. Full Service ACL Application;
2. Templates for your ACL Application; and
3. Review of your ACL Application.

The basic steps you need to follow when obtaining an ACL are:

1. Determine the authorisations needed to operate your business;
2. Choose your Responsible Manager(s);
3. Draft the Application Documents for ASIC;
4. Prepare a Compliance Program; and
5. Organise Ongoing Compliance Support.

Read more about the ACL application process and requirements.

Sophie Grace is able to provide ongoing compliance solutions and assist with external compliance reviews in order to ensure ACL holders are complying with the relevant legislative and regulatory requirements of being a licensee.

If you would like to obtain further information or assistance regarding an ACL, please contact Sophie Grace directly.

The Anti-Money Laundering and Counter-Terrorism Financing (AML/CTF) Act 2006 imposes a risk based approach to mitigating the risk of money laundering and terrorism financing. The obligations under the AML/CTF Act are imposed on a wide range of financial services and credit organisations including but not limited to:

• AFS Licensees;
• Credit Licensees;
• Remittance and Money Transfer Providers; and
• Digital Currency Exchange Providers.

The AML/CTF Act requires AUSTRAC Reporting Entities to adopt and maintain an AML/CTF Program. AML/CTF Programs must comply with and address the obligations imposed by the Act and Rules.

Sophie Grace can assist in developing a suitable AML/CTF Program to ensure that you continue to comply with the obligations under the AML/CTF Act and Rules. We provide three standard service offerings including:

1. Tailored AML/CTF Programs;
2. Template AML/CTF Programs; and
3. Review of your existing AML/CTF Program.

Sophie Grace has real and extensive legal and compliance experience with AML/CTF regulation in Australia. With skills in AML/CTF, risk identification and compliance framework design, clients are given confidence that their AML/CTF needs are not only met but are effective and efficient.

Sophie Grace will work with your business to achieve AML/CTF compliance.

For more information on AML/CTF in Australia, please contact Sophie Grace directly.

Sophie Grace can provide tailored compliance solutions to your business that are efficient and practical. These systems will be designed to ensure your business is constantly achieving the most strategic and efficient operational standards. Sophie Grace is committed to helping you comply with all laws, codes of practice and regulations which apply to your business.

Sophie Grace can provide compliance systems to comfort and satisfy management, shareholders and suppliers that action has been taken to limit business risk and exposure.

Compliance obligations must be constantly satisfied, whether on a monthly, quarterly or yearly basis and can involve, but is not limited to:

• Regular review and update of policies and registers;
• Preparation of regular compliance reporting to Compliance Committee or Board;
• Creation of a compliance calendar to evenly distribute the compliance workload and make it easier to meet obligations;
• Lodging reports to regulators as required;
• Responding to compliance queries; and
• Provision of compliance training to employees, including testing if required.

Sophie Grace can provide ongoing compliance services to your business to ensure that the regulatory requirements for your Licence are met.

If you would like to obtain further information or assistance, please contact Sophie Grace directly.

Managing a company in Australia can be confusing and time-consuming as there are a myriad of laws governing the conduct of business in Australia. Sophie Grace offers legal solutions for your business to assist with this. We can help you deal with financial services and corporate law issues, provide effective advice as well as prepare and review relevant legal documentation.  

Sophie Grace has valuable experience which can assist you in relation to the following aspects:

• Corporate and Commercial legal needs;
• Funds Management; and
• Financial Services.

Sophie Grace has also developed a Fintech Regulation Hub which provides information in relation to the following:

1. Buy Now, Pay Later Services;
2. Robo Advice;
3. Bitcoin;
4. Blockchain;
5. Crowd Sourced Funding;
6. Market Place (P2P) Lending; and
7. Payment Platforms.

Sophie Grace is equipped to assist Fintech businesses establish where they fit within the regulatory network and deal with the relevant regulators.

The Sophie Grace Legal team can also assist you with Starting up your Business and has developed a Business Guide to assist you throughout the entire process.

We can advise and assist you on:

• The Start-Up Process;
• Establishing a Business Structure which supports your aspirations;
• Obtaining the correct documentation for your business whether it be in the Corporate and Commercial, Funds Management or Financial Services/Credit industries; and
• The sale of your businesses and/or purchase of a business and any licences held.

If you would like to obtain further information or assistance, please contact Sophie Grace directly.

Sophie Grace offers a number of solutions to simplify the process of starting your company. We have developed a variety of packages and can offer additional services to assist you in establishing and setting up your company in Australia.

Sophie Grace can provide the following additional services and add-ons to basic company establishment:

• Business Name Registration;
• ABN Registration;
• Registered Agent Services;
• Registered Office Services;
• Director and Secretary Services;
• Choice of banks;
• Opening of a Multi-Currency Bank Account;
• Domain Name and Website Registration including Email Service Set Up;
• Online Accounting Software Set up for ATO BAS reporting; and
• Legal Documentation (e.g. Shareholder Agreements, Leases, Contractor Agreements, Employment Contracts).

Sophie Grace offers the following Company Establishment Packages:

• Australian Company Registration Only;
• Basic Package;
• Standard Package;
• Premium Package.

You can commence the process in registering your new company online or contact us directly for further information or to customise a package for you. Make sure you visit our frequently asked questions page before getting started.