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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 ...

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 ...

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 ...

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 ...

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 ...

FOS Finds Room for Improvement by Financial Services Providers

Posted on September 26th, 2017 by Sophie Gerber in Compliance WorkFOS
The Financial Ombudsman Service Australia (FOS) has identified a number of failures by FSPs and details some concerns about industry behaviours in their latest Circular report. We outline these below. ...

Why Referencing the Regulator in Marketing Material is Risky Business

Posted on September 25th, 2017 by Sophie Gerber in ASICCompliance WorkFinancial Services and Credit Industries
Entities that operate in the financial services and credit industries will often reference the Australian Securities and Investments Commission ('ASIC') or use the ASIC logo in marketing material in a ...

The Beginning of a New Era in ASIC’s Regulatory Regime

Posted on June 26th, 2017 by Sophie Gerber in ASICCompliance WorkFinancial Services and Credit Industries
The Australian Government passed the Supervisory Cost Recovery Levy Bill 2017 and related bills on 16 June 2017, a regulatory milestone for the Australian Securities and Investments Commission (ASIC) ...

Have you Done your Annual AUSTRAC AML/CTF Compliance Report? The Deadline is Approaching!

Posted on February 22nd, 2017 by Sophie Gerber in AML/CTFCompliance Work
AUSTRAC Reporting Entities are required to submit their annual Compliance Report to AUSTRAC by 31 March 2017. This is one of the compliance obligations under the Anti-Money Laundering and Counter-Ter ...