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International Restructuring Newswire
Welcome to the Q2 2024 edition of the Norton Rose Fulbright International Restructuring Newswire.
Australia | Publication | September 21, 2018
ASIC has today extended relief for certain foreign financial services providers (FFSPs) in sufficiently equivalent regulatory regimes from the requirement to hold an Australian financial services licence (AFSL) when providing financial services to wholesale clients.
Relief has been extended on the same terms until 30 September 2019. The extension applies to the ‘limited connection’ relief together with the relief available under:
The extension follows ASIC’s release of a consultation paper in May 2018 (CP 301), which proposed a modified licensing regime and comprehensive review of the relief currently available to FFSPs who provide financial services in Australia. The consultation paper foreshadowed an extension of the relief to 30 September 2019. We expect ASIC to engage with industry on the responses received to CP 301 in the coming months.
The key proposals put forward by ASIC within CP 301 to modify the licensing and relief regime for FFSPs were as follows:
Please contact us if you would like more information on this relief and ASIC’s proposed foreign AFS licensing regime.
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Welcome to the Q2 2024 edition of the Norton Rose Fulbright International Restructuring Newswire.
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n a long-running dispute, taking in no less than three arbitrations spanning 26 years cumulatively (involving allegations of state interference in the arbitral process), the Court has provided useful guidance on the ss.67 and 68 challenges, particularly in the context of investor-state claims.
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Our Asia Competition Law facts sheets provide insights into the main competition law regimes across Asia, reflecting the experience and reach of our Asia competition team in an ever changing and increasingly complex competition law environment.
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