Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry
The Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry has released an interim report covering rounds one to four.
Here is our summary of the key issues identified and considerations for your company.
Financial Services Regulation (FSR) in Australia provides the framework for a single licensing and disclosure regime for financial services providers.
It also provides a uniform scheme for financial products markets and clearing and settlement facilities. It covers most financial services and products.
FSR can apply to off-shore financial services providers, even if their connection with Australia seems very limited.
While the stated objectives of the FSR laws are simple, FSR is a complex and technical area and the laws are undergoing constant review, often resulting in changes to how financial products and services are regulated.
Allens cross-practice Financial Services Regulatory team includes experts from a range of practices within that the firm that advise clients with funds, super, wealth, insurance or banking businesses on regulatory issues that impact their business life-cycle from licensing, product development, distribution and marketing to regulatory compliance. We regularly advise Australian and international clients on regulatory investigations and disputes and have particular expertise in advising on Financial Services Regulatory issues involved in M&A transactions.
Rising interest – regulatory map of upcoming inquiries, reviews, and laws affecting financial institutions.
News and publications
13 November 2018
Unravelled: The ins and out (goings) of responsible lending
13 November 2018
Unravelled: AFCA's powers and obligations – 'systemic issues'
12 October 2018
Corporate Collective Investment Vehicle – tranche three