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 […]
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.
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
ASIC Unveils Updated Guidance for Registered Liquidators Read More »
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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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
ASIC Grants 339 New AFS Licenses in FY2020-21 Read More »
The Australian Securities and Investments Commission (ASIC) published on Thursday its four-year corporate plan for 2021 to 2025, outlining its priorities on the distribution of retail over-the-counter derivatives, especially on the contracts for difference (CFDs) and binary options. The regulator pointed out three key actions on its intervention in the retail OTC derivatives industry. First,
ASIC Prioritizes Monitoring of CFDs and Binary Options Compliances Read More »
The Australian Securities and Investments Commission (ASIC) has become the latest financial market regulator to ring the warning bell against the unlicensed cryptocurrency venues. According to a notice published on Wednesday, the regulator has cautioned Aussie investors who are investing in crypto-related financial products and services on platforms that do not hold an Australian Financial Services
ASIC Warns against Trading Cryptos on Unlicensed Exchanges Read More »
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
Credit industry faces higher ASIC levies Read More »
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.
Compliance Checklist: What a Company Needs to Do to Be AML Compliant Read More »
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
ASIC consults on guidance and relief for litigation funding schemes Read More »
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