Australia: FFSP Regime Finally Announced – Good News for Offshore Managers
By: Jim Bulling and Felix Charlesworth
FFSP regime finally announced – good news for offshore managers
On 17 February 2022, the Government introduced the final version of the Foreign Financial Service Provider (FFSP) regulatory regime into Parliament.
The new laws outline three ways in which FFSPs will either be exempt from the requirement to hold an Australian Financial Services Licence (AFSL), or be able to fast track the licencing process. These exemptions will commence on 1 April 2023, to coincide with the expiry of the transitional relief.
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