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Everything from The Fold Legal

More paperwork for advisers

From The Fold Legal

Financial advisers will need to keep additional records proving they’ve complied with the Best Interests Duty when they give personal advice to retail clients after 23 March 2015. The Fold

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18 Nov 2014

Competitions cause conflicts of interest for brokers

From The Fold Legal

Competitions where insurers or underwriters reward broking staff with a ‘prize’ for meeting certain volume goals for quotes for business placed are rife with conflicts, whether the broker wins a

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13 Nov 2014

Accountants: Take care preparing AFS Applications

From The Fold Legal

Preparing to apply for a limited licence from the Australian Securities and Investments Commission (ASIC) should be taking accountants as long if not longer than the licence application process itself,

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11 Nov 2014

Accountants and licensing: which way to go?

From The Fold Legal

With the transition period for accountants’ licensing ending on 1 July 2016, now is the time for accountants to decide whether or not they need an Australian Financial Services (AFS)

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28 Oct 2014

Licensees: Beware risks and responsibilities of offering temporary home to equity based crowdfunding platforms

From The Fold Legal

Equity based crowdfunding platforms may look to existing Australian Financial Services Licensees (AFSLs) for a ‘temporary home’ until they can get their own licence or expected regulatory changes become law,

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08 Oct 2014

Proportionate liability

From The Fold Legal

Businesses (and their insurance brokers) waiting with bated breath for new model proportionate liability laws may be sorely disappointed. The basic principle of proportionate liability is that it enables responsibility

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29 Sep 2014

Licensee Breaches: When in doubt, report

From The Fold Legal

The Australian Securities and Investments Commission (ASIC) is reminding Australian Financial Services (AFS) licensees that significant or likely breaches of their obligations must be notified within 10 days. Managing Director

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19 Sep 2014

Advisers and accountants completing SMSF lenders advice certificates may be breaching the law

From The Fold Legal

Financial advisers and accountants who provide certificates for limited recourse borrowing arrangements may inadvertently provide credit advice in breach of the National Consumer Credit Protection Act 2009 and for which

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10 Sep 2014

Compliance obligations for bitcoin businesses

From The Fold Legal

Bitcoin businesses should actively seek advice on whether their businesses are compliant, as there may be difficulty in applying existing Australian Financial Services (AFS) licensing laws, according to Claire Wivell

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06 Aug 2014

A sophisticated client – there’s no such thing

From The Fold Legal

Advisers sometimes refer to their clients as sophisticated clients, but this term is often misunderstood according to The Fold Legal. Senior Lawyer at The Fold Legal, Lesley Thorne says there

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01 Jul 2014

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