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Part II: Digital financial advice providers: how can a computer comply with the best interests duty?
This is part of a blog series about how automated advice providers can ensure compliance with the Best Interests Duty.
Holley Nethercote
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Liability of a Responsible Manager (RM) – Who is responsible when things go wrong?
The RM is expected to provide information to ASIC, explain the problems, how they came about and how they will be fixed.Holley Nethercote - Article
What is the credit watchdog watching?: ASIC and consumer credit
ASIC has five chief areas of focus in relation to consumer credit, as well as watching obligations under the Credit Act.Holley Nethercote - Article
Essential things you should know about contracts - Part I
A well drafted contract would make it possible to identify the essence of a contract easily from the first few clauses.Holley Nethercote - Article
How legal are your Corporate Authorised Representative (CAR) / Authorised Representative (AR) agreements? Take the quiz
Many CAR or AR agreements may include unenforceable terms which are likely to be struck out if challenged in court.Holley Nethercote - Article
Need start-up funding? Ask the crowd
This amendment bill will introduce a new regulatory framework to facilitate crowd-sourced equity funding in Australia.Holley Nethercote - Article
Anybody home? The importance of checking whether your corporate clients have been deregistered
Licensees could breach their general conduct obligations if unaware that their corporate clients were deregistered.Holley Nethercote - Article
Credit licensees, lend us your ear - on the new best interests obligations for the mortgage broking sector
Mortgage brokers will now also be required to comply with a statutory duty to act in the best interests of consumers.Holley Nethercote - Article
DTR reporting dates finalised, first licence granted & other developments for issuers of OTC Derivatives
OTC, CFD and Forex traders must report all their positions and transactions into to a Derivative Trade Repository (DTR).Holley Nethercote - Article
FACT SHEET: Checklist for setting up a Cryptocurrency (Virtual Asset) Exchange in Australia
Before you set up a cryptocurrency exchange, read this.Holley Nethercote - Article
TASA Part VI: Keeping Clean: Financial advisers and the TASA Code of Conduct…
Registering with the TPB as a tax (financial) adviser means you are subject to the TASA Code of Professional Conduct.Holley Nethercote - Article
What the Storm Financial case told us about wholesale client eligibility
This judgement provides guidance and clarification on several aspects and tests of wholesale client eligibility.Holley Nethercote - Article
Cryptocurrency exchanges must now fully comply with the anti-money laundering and counter-terrorism laws in Australia
A policy principle period was declared until 2 October 2018 to allow DCEs time to comply with their new obligations.Holley Nethercote - Article
Data breach reporting is on its way
The law aims to improve privacy protection after a data breach, without an unreasonable regulatory burden for businesses.Holley Nethercote - Article
Data breach reporting – what you need to know as a licensee
Licensees should train staff & have procedures that guide through dealing with a data breach.Holley Nethercote - Article
FATCA compliance now mandatory for certain AFSL holders
If your organisation meets the definition of an Australian Financial Institution, then FATCA could apply to you.Holley Nethercote - Article
Part II: Certified Wholesale - SMSFs and Accountants Certificates
Part II of this blog series discusses wholesale client eligibility, individual wealth, controlled entities and SMSFs.Holley Nethercote - Article
Unprecedented wake-up call for AML/CTF in pubs & clubs: AUSTRAC sues Mounties
AUSTRAC is suing Mounties for serious AML/CTF compliance failures, warning the pubs & clubs sector ahead of major law reforms.Holley Nethercote - Article
Part II: Is your marketing material promoting your business, or trashing it?
This is the second part of a blog series about ways to keep your marketing material from being misleading or deceptive.Holley Nethercote - Article
FACT SHEET: The AFSL Variation Process
A guide for the AFSL variation processHolley Nethercote