ASIC extends relief for foreign financial services
providers
On 10 September 2019, ASIC confirmed that the licensing relief
currently afforded to certain foreign financial services providers
(FFSPs) has been extended on the same terms until
31 March 2020. The 'limited connection' relief as well as
'sufficient equivalence' relief were due to expire on 30
September 2019.
Industry feedback as part of
ASIC's Consultation Paper 315 (CP 315)
closed on 9 August 2019, with industry yet to receive instruction
from ASIC as to whether its proposals to introduce a foreign
financial services licence and funds management relief will go
ahead. Please visit our website for further information on
ASIC's extension of the relief, as well as
ASIC's CP 315 proposals (including the proposed foreign
financial services licence and funds management relief).
