+61 2 8960 7242

Blog




Providing Financial Services Unlicensed? ASIC Steps Up Enforcement Action

Posted on May 7th, 2018 by Sophie Gerber in ACL ComplianceAFSL ComplianceASICLicensing
The Australian Securities and Investments Commission (ASIC) has stepped up enforcement against those involved in operating a financial services business without holding an Australian Financial Service ...

Changes to the European Privacy Regulations Commence this Month!

Posted on May 3rd, 2018 by Sophie Gerber in Compliance WorkData Protection
The European General Data Protection Regulation (GDPR) will come into effect on 25 May 2018 and will apply to all entities that process the personal data of individuals residing within the European Un ...

Registrations Open for Digital Currency Exchange Providers

Posted on May 1st, 2018 by Sophie Gerber in AML/CTFASICAUSTRACFintech
Changes to the Anti-Money Laundering and Counter-Terrorism Financing (AML/CTF) Amendment Instrument 2018 are now in force. This means, if you currently provide Digital Currency Exchange (DCE) services ...

New Professional Standards and Training Obligations for Financial Advisers are Coming Soon

Posted on March 28th, 2018 by Sophie Gerber in AFSLsASICCompliance WorkFinance Industry
From 1 January 2019, all new financial advisers will be required to meet the new professional standards and training obligations. Under the new regime, financial advisers providing personal advice ...

The Transition from FOS to the AFCA Commences 1 April 2018

Posted on March 28th, 2018 by Sophie Gerber in AFSL ComplianceDispute ResolutionFinance IndustryFOS
Is your business a member of the Financial Ombudsman Service (“FOS”)? If so, you should have received two important emails from FOS this month. One was sent in early March advising that the Gov ...

ASIC’s AFSL and ACL Application Charges Set to Increase on 1 July 2018

Posted on March 16th, 2018 by Sophie Gerber in ACLsAFSLsASICFinancial Services and Credit Industries
From 1 July 2018, ASIC will be able to charge fees for its services which include regulatory costs that are directly attributable to a single, identifiable entity. Below are some examples of the Fe ...

Farewell FOS! The Australian Financial Complaints Authority is Here!

Posted on March 9th, 2018 by Sophie Gerber in Compliance WorkFinancial Services and Credit IndustriesFOS
The Financial Ombudsman Service (“FOS”), the Credit and Investments Ombudsman (“CIO”) and the Superannuation Complaints Tribunal (“SCT”) dispute resolution schemes will be replaced by the ...

In Case You Missed It – Available Online Now – Sophie Gerber Speaks at the Hong Kong iFX Expo

Posted on March 7th, 2018 by Sophie Gerber in Compliance WorkFinance IndustryFinancial Services and Credit Industries
Sophie Grace Compliance and Legal Director, Sophie Gerber, was among four professionals who participated in a panel held on day 2 of the 2018 iFX Expo Asia, which discussed the challenges and opport ...

Are you Ready for ASIC’s Client Money Reporting Rules?

Posted on March 5th, 2018 by Sophie Gerber in ASICClient MoneyFinance Industry
ASIC's Client Money Reporting Rules 2017 (“Rules”) commence on 4 April 2018. The Rules impose record-keeping, reconciliation and reporting obligations on Australian Financial Service licensees ( ...

The Importance of Updating your ASIC Financial Advisers Register Listing

Posted on February 20th, 2018 by Sophie Gerber in AFSLsASICCompliance Work
Since its launch on 31 March 2015, ASIC’s Financial Advisers Register (“the Register”) has been a valuable source of information for members of the public and those interested in engaging a fina ...