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Accountant AFSL

  • Hall & Wilcox
  • -
  • Australia
  • -
  • June 28 2012

On 23 June 2012 the Minister for Financial Services and Superannuation, Bill Shorten, announced that the Gillard Government intends to introduce a limited Australian financial services licence (AFSL) for accountants

ASIC RG 46: unlisted property schemes, improving disclosure

  • Hall & Wilcox
  • -
  • Australia
  • -
  • May 8 2012

The unlisted property fund industry is the latest recipient of ASIC’s ‘if not why not’ benchmark model of disclosure, set out in the recently updated Regulatory Guide 46 Unlisted property schemes: Improving disclosure for retail investors

Changes to ASIC financial requirements for responsible entities of managed investment schemes

  • Hall & Wilcox
  • -
  • Australia
  • -
  • November 9 2011

ASIC has released new financial requirements for responsible entities of managed investment schemes in an effort to ensure that ‘schemes wanting to take on the responsibility of managing investors’ money are backed up by responsible entities (REs) with appropriate financial substance.’

ASIC consultation paper 163: unlisted property schemes: update to RG 46

  • Hall & Wilcox
  • -
  • Australia
  • -
  • September 7 2011

The unlisted property fund industry is the latest to receive a new range of proposals aimed at improving disclosure to retail investors

FOFA: review of the wholesale and retail clients definition

  • Hall & Wilcox
  • -
  • Australia
  • -
  • February 3 2011

On 24 January 2011, Treasury released an options paper titled "Wholesale and Retail Clients Future of Financial Advice" (Options Paper) as a part of its Future of Financial Advice (FOFA) reforms

ASIC to extend withdrawal relief to unlisted property funds

  • Hall & Wilcox
  • -
  • Australia
  • -
  • March 24 2010

Further to our update of 19 August 2009, on 23 December 2009 the Australian Securities and Investments Commission (ASIC) announced an intention to grant conditional relief for investors in frozen mortgage funds to enable a responsible entity to implement a 'rolling' withdrawal offer over a 12 month period

PJC releases financial services inquiry report

  • Hall & Wilcox
  • -
  • Australia
  • -
  • December 18 2009

The Parliamentary Joint Committee (Committee) on Corporations and Financial Services or the Ripoll Committee as it is popularly known, released its much anticipated report (Report) on its inquiry into financial products and services in Australia (Inquiry) on 23 November 2009

Can foreign financial service providers operate in Australia?

  • Hall & Wilcox
  • -
  • Australia
  • -
  • December 18 2009

This article explores the requirement for foreign financial services providers (FFSP) to hold an Australian Financial Services Licence (AFSL) when operating a financial services business in Australia and sets out the various options available to FFSPs including various exemptions from the requirement to hold an AFSL

ASIC credit licensing guidance released

  • Hall & Wilcox
  • -
  • Australia
  • -
  • December 8 2009

The Australian Securities and Investment Commission (ASIC) has released a package of regulatory guidance to help entities and individuals prepare for the new National Consumer Credit regime

ASIC issues draft guidance on insolvent trading

  • Hall & Wilcox
  • -
  • Australia
  • -
  • December 4 2009

In response to a degree of uncertainty as to a director's statutory duty to prevent insolvent trading, the Australian Securities and Investments Commission (ASIC) has released a consultation paper containing a number of proposals on this fundamental duty (Consultation Paper 124: Duty to prevent insolvent trading: Guide for directors