Australia

Australia

New Foreign Financial Services Regulation

10 Mar 2020

On 10 March 2020, the Australian Securities and Investments Commission published new regulations for Foreign Financial Services Providers (FFSPs) providing financial services to Australian wholesale clients. The new framework has two key elements: - a new foreign Australian financial services licensing regime for FFSPs; and - licensing relief for providers of funds management financial services seeking to induce some types of professional investors.