On 2 August 2022, the Australian Securities and Investments Commission (ASIC) has again announced an extension of the transitional arrangements to certain exemptions applying to foreign financial services providers (FFSPs) for a further 12 months. The arrangements now expire on 31 March 2024. Transitional exemptions Both in the past and currently, […]
Ahead of the effectiveness of significant law reform for the broader financial services industry, ASIC Chairman Joe Longo stated that: “While these reforms have been in the pipeline for some time, ASIC recognises they require significant changes to businesses systems and processes and take effect at the same time industry is […]
As of 1 October 2021, AFS licensees need to brace themselves, and be ready for, the introduction of the new breach reporting framework and the risks it poses to operating in Australian financial services.