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Changes Ahead as Life Insurance Commission Caps have Commenced

Posted on January 29th, 2018 by Sophie Gerber in ASICFinance IndustryInsurance
From 1 January 2018, upfront commissions for life insurance providers are capped at 80%. The life insurance industry initially escaped the future of financial advice (FoFA) reforms under which all oth ...

ASIC Further Clarifies its Reporting Rules for OTC Derivatives Issuers

Posted on January 23rd, 2018 by Sophie Gerber in ASICClient MoneyOTC Derivatives
In October 2017, ASIC released Information Sheet 226 Complying with the ASIC Client Money Reporting Rules (Info Sheet 226) which included fields pertaining to client monies held with brokers as per th ...

Hear Sophie Gerber speak at the Hong Kong iFX Expo

Posted on January 18th, 2018 by Sophie Gerber in Finance Industry
Sophie Gerber is confirmed to speak at the iFX Expo in a panel on day 2 of the Hong Kong iFX Expo (25 January 2018) at 11:45am. The panel will provide insights into setting up in Asia – the regu ...

Licensing Assessment Delays to Continue as ASIC Increases their Licence Approval Timeframes

Posted on January 15th, 2018 by Sophie Gerber in ACLsAFSLsASICLicensing
ASIC has announced changes to its service charter causing further delays to licence approval. The service charter details the timeframes you can expect for ASIC to respond to your correspondence, incl ...

Meet the Sophie Grace Team in Hong Kong at the iFX Expo

Posted on January 10th, 2018 by Sophie Gerber in Finance Industry
Sophie Gerber, Angela Yang and Melody Gao from the Sophie Grace team will be attending the Hong Kong iFX Expo taking place in January 2018.  They will be available for meetings from 22 to 26 Ja ...

New Derivatives Regulations in Effect for Issuers to NZ Clients

Posted on December 4th, 2017 by Sophie Gerber in LicensingNew ZealandOTC Derivatives
Starting today, all derivatives issuers (issuers) who make regulated offers to New Zealand clients must be licensed by the New Zealand Financial Markets Authority (FMA). Previously, financial servi ...

The Licensing Deadline for Issuers of Short-Term Derivatives to New Zealand Clients has Arrived

Posted on November 29th, 2017 by Sophie Gerber in LicensingNew ZealandOTC Derivatives
From Friday, 1 December 2017, all derivatives issuers (“Issuers”) who make regulated offers to New Zealand clients must be licensed by the New Zealand Financial Markets Authority (“FMA”). P ...

New Guidance for Funds Management Released for Consultation

Posted on November 27th, 2017 by Sophie Gerber in AFSLsASICCompliance WorkFunds Management
Introduction The Asia Region Funds Passport (“Passport”) and the Corporate Collective Investment Vehicles (“CCIVs”) are finally here.  On 26 October 2017, ASIC released Consultation Paper ...

Initial Coin Offerings: A Global Perspective

Posted on November 22nd, 2017 by Sophie Gerber in AFSLsASIC
With the increasing popularity of Initial Coin Offerings (ICOs) (a product which adopts the blockchain technology), financial services businesses which are looking to adopt the product should be aware ...

Brokers Under Increased ASIC Scrutiny

Posted on November 20th, 2017 by Sophie Gerber in ACLsASICFinancial Services and Credit IndustriesLoans
The industry is under higher levels of scrutiny by the Australian Securities & Investments Commission (ASIC), according to one financial services consultancy firm. In a recent blog post, Sophie ...