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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 ( ...

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 ...

Receiving Credit Card Payments from Clients? New Requirements Coming Soon

Posted on July 27th, 2017 by Sophie Gerber in Client MoneyFinancial Services and Credit IndustriesPayment Surcharges
From 1 September 2017, all businesses will be prohibited from charging excessive payment surcharges for certain payment methods including Visa and MasterCard credit and debit cards, EFTPOS and the Ame ...

It’s Time to Take Action! Client Money Reforms are Around the Corner

Posted on July 17th, 2017 by Sophie Gerber in ASICClient MoneyFinance Industry
The reality of the new Client Money regime for retail derivatives sank in further this week with the release of the ASIC Client Money Consultation Paper. The paper sets out how ASIC intends to manage ...

Exclusive: Industry Reacts to Proposed Client Money Laws in Australia

Posted on July 14th, 2017 by Sophie Gerber in ASICClient MoneyFinance Industry
The official consultation period on new client money laws was started by ASIC earlier this week. It’s been a year of heavy lifting for the retail foreign exchange and CFDs trading industry. The int ...

Client Money Reforms Bill Passed by Senate – An Update on the Reforms

Posted on March 29th, 2017 by Sophie Gerber in Client MoneyFinance Industry
The Australian Parliament has this week passed proposed reforms to the client money rules relating to retail derivatives into law. The new rules are likely to come into force in the first half of 2018 ...