Matthew Farnsworth (AU)

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ASIC has released CP 301, a consultation paper which proposes a modified licensing regime (in place of the current FFSP relief available for FFSPs in certain jurisdictions) for foreign financial services providers carrying on a financial services business in Australia, with submissions due by 31 July 2018. Background In 2003, ASIC issued class order relief that conditionally exempted FFSPs regulated by sufficiently equivalent regulatory regimes from the requirement to hold an AFS licence when…