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Fact Sheet: The AFSL (Australian Financial Services Licence) application process
The applicant must attest that they have all of the systems and processes in place and is ready to commence business.
Holley Nethercote
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Services Agreements in financial services. What are the essentials?
What are Services Agreements? Why do I need one? What should it include? Can I just use AI to draft it?Holley Nethercote - Article
Currently trending: Interim stop orders – ASIC's focus on design and distribution
Are you complying with design & distribution obligations? ASIC is actively checking & will issue interim stop orders if you are not.Holley Nethercote - Article
Design and Distribution Obligations – deferred but not forgotten. What do you need to do to prepare for the DDO regime?
Product issuers and distributors still need to prepare for the commencement of the DDO regime - set for 5 October 2021.Holley Nethercote - Article
Getting (and then varying) your Australian Financial Services Licence
Some practical tips to help you understand and navigate your way through the quagmire of FSR.Holley Nethercote - Article
Managed investment schemes (MIS) and when they must be registered
What is a managed investment scheme? Registered vs unregistered managed investment scheme.Holley Nethercote - Article
Why your AML/CTF Program needs to be independently reviewed regularly
AUSTRAC explains that an independent review is an impartial assessment of Part A of the AML/CTF Program.Holley Nethercote - Article
Enhanced whistleblower protections: What does it mean for your company?
The new regime will require some companies to also have a whistleblower policy complying with the statutory requirements.Holley Nethercote - Article
Efficiently, Honestly and Fairly – What does it mean?
An aim of all AFSL holders is to comply with the relevant financial services laws.Holley Nethercote - Article
RSE licensees – changes in financial services obligations for superannuation funds
This article looks at the various changes and considers their impact for trustees and their responsible managers.Holley Nethercote - Article
10 tips to keep your promotional material from being misleading or deceptive
All businesses are legally responsible for the content of the promotional material that they publish or otherwise make public.Holley Nethercote - Article
5 frequently asked questions about setting up a cryptocurrency exchange in Australia
FAQ answers to prepare you for talking to lawyers about getting started in the highly regulated Australian jurisdiction.Holley Nethercote - Article
The AFSL Application Process
You need to consider the pros and cons of obtaining your own AFSL, and to decide which pathway is best for your business.Holley Nethercote - Article
Is AI a threat or opportunity for Australian Financial Services and Australian Credit Licensees, today?
Artificial Intelligence (AI) presents unique regulatory and other risks that need to be managed.Holley Nethercote - Article
AFCA (Australian Financial Complaints Authority) receives its first report card
AFCA was found to be "performing well in a difficult operating environment and a changing regulatory landscape".Holley Nethercote - Article
Who's in control? Changes of control to a licensed entity and your obligations
Obligation of AFSL holders and credit licensees to determine whether there has been a change of control in their entity.Holley Nethercote - Article
To Apologise, Or Not To Apologise – That Is The Question
Within both the criminal and civil law contexts, the concepts of an apology and an admission often overlap.Holley Nethercote - Article
CCIV – A new structure for collective investments
What is a CCIV? How will it operate & what are the licensing & regulatory requirements under the financial services laws?Holley Nethercote - Article
The Royal Commission and the distinction between wholesale and retail clients in the financial services industry - A missed opportunity?
The issue was not raised in the public hearings and was not mentioned in either the Interim Report or the Final Report.Holley Nethercote - Article
ASIC product intervention power – How does it work?
ASIC Regulatory Guide 272 (RG 272) provides guidance to the approach ASIC will take with its product intervention powers.Holley Nethercote
