The Australian Securities & Investments Commission (ASIC) recently published proposals setting out a limited licensing regime for foreign financial service providers carrying on a financial services business in Australia with wholesale clients.

The proposals will see the repeal of the conditional Australian financial services licence (AFSL) class order relief currently relied upon by many foreign financial services providers (FFSPs) providing financial services to wholesale clients in Australia and introduce a new 'foreign AFSL' regime, to be used by FFSPs instead of the existing AFSL relief after a transitional period.

AIMA will be making a submission and for this purpose it is urging member firms relying on the relief to complete this survey. ASIC is keen to understand the services that are being provided by foreign financial service providers.

We are seeking this information to make a submission that offshore managers marketing to Australian institutional investors should continue to have the benefit of some licensing relief. In this webinar, AIMA will review the latest developments and invite feedback for our submission.

AIMA APAC Webinar: A Brave New World - New Australian Licensing Regime for Foreign Firms

 

The recording is available for viewing here.

Speakers:

Nikki Bentley, Partner, Norton Rose Fulbright

Moderator:

Kher Sheng Lee, Managing Director, Co-Head of APAC and Deputy Global Head of Government Affairs, AIMA

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