ACP-admin, Author at ACP Advisory - AFSL | Global Financial Licensing Consultant

ASIC consults on guidance and relief for litigation funding schemes

Business, Industry, Regulations / ACP-admin

ASIC has today released Consultation Paper 345 Litigation funding schemes: Guidance and relief (CP 345) to seek feedback on proposed guidance and relief for litigation funding schemes. In the consultation paper, ASIC is proposing to: provide definitional guidance for key terms in the managed investment scheme (MIS) regulatory regime as they apply to litigation funding […]

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Small business crushed by NSW lockdown extension

Business, Community / ACP-admin

$1 billion a week: NSW lockdown extension threatens to push small retailers into insolvency An extension of the lockdown for Greater Sydney and surrounds could be the tipping point for small businesses to consider insolvency, leading bodies have warned. The Australian Retailers Association (ARA) estimates that for every week the lockdown continues, retailers collectively

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Debt management licensing regime has commenced

Business, Regulations / ACP-admin

From 1 July 2021, providers of debt management services (including firms offering ‘debt negotiation’ or ‘credit repair’ services) are regulated under the National Consumer Credit Protection Act 2009 (National Credit Act). This means providers of these services must: hold a credit licence with an authorisation that covers those services (or act as a representative of

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ASIC Seeks Public Feedback on Crypto ETPs

Blockchain, Business, Industry / ACP-admin

The regulator will accept the feedback until July 27, 2021. As the demand for crypto-based exchange-traded products (ETPs) is increasing, the Australian financial markets watchdog is seeking public feedback on such retail investment instruments. The Australian Securities and Investments Commission (ASIC) released a consultation paper on Wednesday that covers ‘crypto-assets as underlying assets for

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ASIC Extends Licensing Relief to Foreign Financial Service Providers

Forex, Industry, Regulations / ACP-admin

Regulated foreign firms can now operate in the country until March 31, 2023, without a local license. The Australian Securities and Investments Commission (ASIC) announced on Friday the extension of temporary relief for all foreign financial service providers (FFSPs) that will allow them to operate in the country without an Australian Financial Services (AFS) license.

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ASIC Bans Binary Options for Australian Retail Clients

Forex, Industry, Regulations / ACP-admin

The Australian regulator mentioned that the ban will take effect from 3 May 2021. The Australian Securities and Investments Commission (ASIC), announced today that it has decided to ban the sale of binary options to retail traders in Australia. During ASIC’s reviews in 2017 and 2019, the regulatory authority found that around 80% of retail

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Bitcoin ETFs under Active Consideration, Says ASIC Commissioner

Blockchain, Business, Industry / ACP-admin

Armour sought to change the ASIC’s reputation for being stuck in the mud when it comes to Bitcoin-linked products. ASIC commissioner Cathie Armour on Friday said the Australian Securities and Investment Commission is open to the idea of facilitating the listing of crypto versions of exchange-traded funds. Armour has seemingly sought to change ASIC’s reputation

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Aussie Brokers Welcome ASIC Restrictions Despite Expected Volume Dip

Forex, Industry, Regulations / ACP-admin

The new leverage levels will become effective on March 29, 2021. The Australian Securities and Investments Commission (ASIC) is going to implement restrictions on the retail contract for difference (CFDs) market. Their impact on the trading market can be huge as the leverage levels will be restricted up to 30:1 from the usual existing offerings

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ASIC seeks further feedback on internal dispute resolution data reporting requirements

Business, Industry / ACP-admin

ASIC is seeking further feedback on proposed requirements for internal dispute resolution data reporting. Today’s release follows ASIC’s earlier consultation through Consultation Paper 311 Internal dispute resolution: Update to RG 165 (CP 311) which was published on 15 March 2019. Among other matters, CP 311 outlined ASIC’s approach to implementing the internal dispute resolution data

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ASIC consults on consumer remediation guidance

Business, Industry, Regulations / ACP-admin

ASIC has today released a consultation paper on proposed updates to Regulatory Guide 256: Client review and remediation conducted by advice licensees. Consultation Paper 335 Consumer Remediation: Update to RG 256 (CP 335) includes clarification of RG 256’s application to all financial services licensees, credit licensees and superannuation trustees. Announcing the consultation, Acting Chair Karen Chester said, “Putting money back in

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Author name: ACP-admin

ASIC consults on guidance and relief for litigation funding schemes

Small business crushed by NSW lockdown extension

Debt management licensing regime has commenced

ASIC Seeks Public Feedback on Crypto ETPs

ASIC Extends Licensing Relief to Foreign Financial Service Providers

ASIC Bans Binary Options for Australian Retail Clients

Bitcoin ETFs under Active Consideration, Says ASIC Commissioner

Aussie Brokers Welcome ASIC Restrictions Despite Expected Volume Dip

ASIC seeks further feedback on internal dispute resolution data reporting requirements

ASIC consults on consumer remediation guidance

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