In June 2016, the Australian Securities and Investments Commission (ASIC) released Report 482 – ‘Compliance Review of the retail OTC Derivatives Sector’. The report highlighted the key findings ASIC found throughout compliance review of the sector. The report ASIC identified seven key risks.
However, there are a number of issues which ASIC didn’t include in its report which are important for Australian Financial Services License (AFSL) Holders who operate in the retail OTC derivatives space. Sophie Grace suggests AFSL Holders review the below and ensure compliance practices continue to meet regulatory requirements.
Sarah works with the Compliance Team with a particular focus on compliance and legal services. Sarah also works with the Legal Team providing ongoing assistance in drafting and reviewing documentation as well as legal research. Sarah assists clients with AFSL and ACL applications, variations and also assists in the implementation of compliance reviews. She provides ongoing compliance support in the form of compliance program implementation and reviews.