Article
AFCA determinations - Approach to responsible lending disputes
AFCA has changed its approach to responsible lending in response to feedback & consultation from financial firms & consumer groups. Key takeaways.
Sophie Grace Pty Ltd
- Article
Q&As for lenders – dealing with financial assistance requests
Some common questions of interest to credit issuers in dealing with requests for financial difficulty assistance.Sophie Grace Pty Ltd - Article
ASIC releases report on hardship for credit providers
ASIC has issued Report 783 – Hardship, hard to get help: Lenders fall short in financial hardship support.Sophie Grace Pty Ltd - Article
How foreign financial services providers can provide services to Australian clients
ASIC extended transitional relief for FFSPs to 31 March 2027, allowing them to continue providing services in Australia while new licensing exemptions are formalised.Sophie Grace Pty Ltd - Article
ASIC releases Report 770 on compliance with Design and Distribution Obligations by Retail OTC Derivatives
Summary of 7 key findings outlined in ASIC Report 770, relevant and applicable to all retail product issuers.Sophie Grace Pty Ltd - Article
Complaints And IDR Processes – Learnings From AFCA's 2023-24 Complaints Statistics
AFCA has indicated its disappointment at another record year of complaints and wants financial services and credit licensees to do more.Sophie Grace Pty Ltd - Article
Existing Reporting Entities – Do you offer Tranche 2 services?
The AML/CTF regime will be extended to a variety of Tranche 2 services from July 2026 onwards.Sophie Grace Pty Ltd - Article
ASIC's review of Offshore Service Providers for Australian Financial Services Licensees
The recommendations included in ASIC's reviews of are relevant to all Australian Financial Services Licensees.Sophie Grace Pty Ltd - Article
Understanding AML/CTF Reforms – Part 3: New Designated Services – ‘Tranche 2'
Changes to the definition of "designated services" introduced and which types of businesses will be required to comply with AML/CTF requirements.Sophie Grace Pty Ltd - Article
Insights From AUSTRA's National ML/TF Risk Assessments
AUSTRAC has published two National Risk Assessments about the extent of money laundering and terrorism financing.Sophie Grace Pty Ltd - Article
How Foreign Financial Services Providers Can Provide Services To Australian Clients
Australia is introducing three new licensing exemptions for foreign financial services providers that will take effect in April 2027. These exemptions—covering professional investors, comparable regulators, and market makers—will allow certain FFSPs to conduct financial services business without obtaining an Australian Financial Services Licence, provided specific conditions are met.Sophie Grace Pty Ltd - Article
Time to review your conflicts of interests management – ASIC Report 742
Article examines key areas in REP742 and includes questions for AFS Licensees to test conflicts of interest management.Sophie Grace Pty Ltd - Article
New Sector- Specific Lists of Suspicious Activity Indicators Published by AUSTRAC – Non-bank Lenders and Financiers
AUSTRAC has recently published new lists of suspicious activity indicators that are sector-specific to assist reporting entities.Sophie Grace Pty Ltd - Article
Your Next ASIC Invoice – Indicative Costs ASIC's 2024-2025 Regulatory Levies Released
AFSL holders should make sure to include the levy in cash flow projections moving forward to avoid any inadvertent breaches.Sophie Grace Pty Ltd - Article
New Sector-Specific Lists Of Suspicious Activity Indicators Published By AUSTRAC – Digital Currency (Cryptocurrency)
AUSTRAC has recently published new lists of suspicious activity indicators that are sector-specific.Sophie Grace Pty Ltd - Article
Your next ASIC invoice – indicative costs ASICs 2021-2022 Regulatory Levies released
Draft CRIS details ASIC costs & how they are allocated to participants in the financial services & credit industries.Sophie Grace Pty Ltd
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