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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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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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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BNPL Code – to B or not to B a member?

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The Australian Finance Industry Association (AFIA) has released a new voluntary Buy Now Pay Later (BNPL) Code (Code) to address criticism that the industry is under-regulated and to enhance consumer

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Best interests duty – mortgage broker = Join the club

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The new mortgage broker’s best interests duty obligations are wide reaching. They may apply even if you’re providing credit assistance that doesn’t relate to a mortgage. Who does it apply

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An AFS licensing exemption for product issuers – intermediary authorisation

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Providing financial products to retail clients in Australia is almost impossible unless you hold an Australian financial services (AFS) licence. The intermediary authorisation exemption is virtually the only way product

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5,000 reasons why you should trust your Mortgage Broker

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Mortgage brokers must meet the best interests duty from 1 July 2020 or risk a fine of 5,000 penalty units or $1.05 million.This means you must show you have your

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Deferred sales model for add-on insurance

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Finity and The Fold Legal released an update on the Royal Commission’s recommendations into add-on insurance in July 2019. After two separate consultation papers, Treasury has recently released: An Exposure Draft

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Royal commission response: Anti-hawking

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Currently insurers are not permitted to offer financial products for issue or sale to retail clients in the course of or because of an unsolicited meeting at all, or in

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