Business

Vanuatu’s Financial Dealers Licensing Act: Key Changes and What It Means for Your Business

Vanuatu’s Financial Dealers Licensing Act No. 5 of 2024: Key Changes and What It Means for Your Business On December 4, 2024, the Vanuatu Financial Services Commission (VFSC) officially gazetted the Financial Dealers Licensing (FDL) Amendment Act No. 5 of 2024. This amendment introduces significant regulatory updates affecting all FDL license holders, registered agents, and […]

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Seychelles’ Evolving Regulatory Landscape: Key Changes for Brokers and Securities Dealers

Seychelles’ Evolving Regulatory Landscape: Key Changes for Brokers and Securities Dealers   Seychelles has long been a preferred offshore jurisdiction for forex brokers and securities dealers, offering regulatory flexibility, attractive tax benefits, and an efficient licensing process. However, with the recent amendments introduced by the Securities (Amendment) Act, 2024, the regulatory landscape has evolved significantly.

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ASIC Unveils Updated Guidance for Registered Liquidators

ASIC Unveils Updated Guidance for Registered Liquidators: Enhancing Clarity and Addressing Industry Needs The Australian Securities and Investments Commission (ASIC) has announced significant updates to its regulatory guidance for registered liquidators, aimed at streamlining processes and improving clarity within the profession. This updated guidance, outlined in Regulatory Guide 258 (RG 258), reflects a range of

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ASIC Updates 2023-24 Licensing and Professional Registration: Crypto, BNPL, and More in Focus

ASIC Updates 2023-24 Licensing and Professional Registration: Crypto, BNPL, and More in Focus The Australian Securities and Investments Commission (ASIC) has released its 2023-24 update on licensing and professional registration activities, providing key insights into its gatekeeping role in maintaining market integrity. As detailed in Report 797: Licensing and Professional Registration Activities (REP 797), ASIC

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Shaping the Future of Finance: The Role of Leading Global Regulatory Authorities

Shaping the Future of Finance: The Role of Leading Global Regulatory Authorities In today’s interconnected financial landscape, regulatory bodies like the U.S. Securities and Exchange Commission (SEC), the Financial Conduct Authority (FCA), and the European Securities and Markets Authority (ESMA) play critical roles in establishing trust, ensuring compliance, and fostering innovation across global markets. From

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Updated Guidance for International Financial Services Businesses in Australia

ASIC Reissues Regulatory Guide 121: Updated Guidance for International Financial Services Businesses in Australia The Australian Securities and Investments Commission (ASIC) has reissued Regulatory Guide 121 (RG 121) to offer updated guidance for individuals and companies outside Australia seeking to conduct financial services business within the country. This revised version replaces the previous guidance issued

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ASIC Grants 339 New AFS Licenses in FY2020-21

The Australian Securities and Investments Commission (ASIC) published a report on Wednesday, detailing its licensing activities in the last financial year, between July 2020 to June 2021. The regulator has issued 339 new Australian Financial Services (AFS) licenses and 119 new credit licenses in the period. The last fiscal year was a bit different for

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Credit industry faces higher ASIC levies

  ASIC has published its draft Cost Recovery Implementation Statement for the 2020-21 financial year, with expectations of what each finance sector will be charged to fund its regulation. The levies, which are based on ASIC’s regulatory costs and business metrics, will be finalised in December and invoiced in January next year. The regulator has

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Compliance Checklist: What a Company Needs to Do to Be AML Compliant

  Global penalties for AML regulation non-compliance are increasing year after year. Overall, the number of fines in 2020 was $10.4 billion. Major banks like Deutsche Bank (USA) and Commerzbank (UK) were fined millions of dollars for non-compliance. In this article, I will try to review what is necessary for any company to stay compliant.

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ASX Calls for Regulations of Crypto Custodians

The Australian Securities Exchange (ASX) wrote a letter to the country’s Senate last week pointing out several risks in holding digital assets and calls for better regulations around the industry. “On major blockchain platforms such as Bitcoin and Ethereum, digital assets are associated with a user through an address. Whoever can access the address is

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