BNPL impacted by ASIC Intervention Orders

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Providers of short-term credit and continuous credit contracts are on ASIC’s radar, with ASIC recently issuing two new product intervention orders modifying what fees can be charged when relying on

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Financial Reporting Changes for AFS Licensees

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New reporting requirements now apply to AFS licensees for financial years commencing 1 July 2021. What are the new financial requirements? AFS licensees previously relying on special purpose financial statements

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Responsible Managers in a nutshell

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Having the right Responsible Managers is important to maintaining and managing a financial services business, but who are the right people to be your Responsible Managers. Who is a Responsible

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The Fold Legal prepares submission on the future of crypto regulation

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The Fold Legal is delighted to have made a submission to the Treasury Consultation Paper on Crypto asset secondary service providers: Licensing and custody requirements, which is looking at how

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“Have you tried turning it off and on again?” – A review of the decision in ASIC V Ri Ad

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On 5 May 2021, the Federal Court handed down a landmark decision in Australian Securities and Investments Commission v RI Advice Group Pty Ltd (2022) FCA 496 by declaring that

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Are you getting the licence you’re paying for

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Purchasing an Australian financial service licence (AFSL) or an Australian credit licence (ACL) is an exciting opportunity to take your financial service business to the next stage of growth. The

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Who watches The Watchmen? We do – a review of the ASIC Enforcement Update

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On 28 March 2022 the Australian Securities and Investments Commission (ASIC) released Report 722 ‘ASIC Enforcement Update July to December 2021’ (Report 722). In this article, we: review the key

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Financial Services and Credit Panel – with great power comes great responsibility

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ASIC has released a consultation paper[1] on what matters should be heard by the Financial Services and Credit Panel and how it will assess an adviser as a fit and proper person.

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Who Would Be An AFSL? – The Court’s Review Of Section 961L

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On 2 August 2021, the Federal Court handed down its decision in the matter of Australian Securities and Investments Commission v RI Advice Group Pty Ltd (No 2) (2021) FCA 877. Background

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Tips and traps for authorised representative agreements

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If you are appointed to provide financial services on behalf of an Australian financial service licensee, you must enter into an authorised representative (AR) agreement. In this blog we set

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