By: Jim Bulling and Laura McFadzean
On 30 November 2023, the Australian Government tabled a Bill proposing Australian Financial Services Licence (AFSL) exemptions for FFSPs in Australia.
Read MoreBy: Lisa Lautier and Dhivya Kalyanakumar
On 21-22 November 2023, the Australian Securities & Investments Commission (ASIC) hosted the ASIC Annual Forum with a focus on ‘navigating disruption’. With heightened geopolitical uncertainty and market volatility, ASIC outlined its key focus areas for 2024:
Read MoreBy: Matthew Watts and Lisa Lautier
The Australia Securities and Investment Commission (ASIC) have released Consultation Paper 374 proposing to remake Class Order [CO 13/721] Relief to facilitate quotation of exchange traded funds on the AQUA Market (Class Order) which is due to expire on 1 April 2024.
Read MoreBy: Jim Bulling and Laura McFadzean
On 14 November 2023, the Australian Government released what is described as the first of three tranches of proposed draft legislation implementing the QAR recommendations.
While the government is still saying it intends to address the remaining recommendations of the QAR, there were no commitments given at this stage.
Read MoreBy: Jim Bulling and Laura McFadzean
On 2 November 2023, the Australian Treasury announced a proposal to develop a labelling system for investment products marketed as sustainable in its Sustainable Finance Strategy Consultation Paper.
Read MoreBy: Matthew Watts and Rebecca Mangos
The Australia Securities and Investments Commission (ASIC) has released its second report on information lodged under the reportable situations regime for the period 1 July 2022 to 30 June 2023.
Read MoreBy: Jim Bulling, Lisa Lautier and Ben Kneebush
On 23 October 2023, the Australian Accounting Standards Board (AASB) released the long-awaited Exposure Draft outlining the Australian climate-related reporting standards.
Read MoreBy: Rebecca Mangos and Lisa Lautier
The Australian Investments and Securities Commission (ASIC) announced that it has further extended relief for foreign financial services providers (FFSPs) from the requirement to hold an Australian financial services licence (AFSL) when providing financial services to Australian wholesale clients.
Read MoreBy: Daniel Knight and Kithmin Ranamukhaarachchi
Yesterday the Australian Federal Government released its proposal paper on regulating the crypto industry (Paper). The government proposes to regulate exchanges, custodians and other digital asset service providers within the scope the Australian Financial Services (AFS) licensing regime.
Read MoreBy: Jim Bulling and Ben Kneebush
As previously discussed in our post, the Australian Treasury has proposed to introduce mandatory climate-related financial disclosure standards in Australia. This will have a profound impact on the financial services industry, as financial services entities (including superannuation funds) will be captured by this disclosure framework. Under a phased implementation, reporting commences on 1 July 2024 for certain large entities.
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