Under Australian financial services laws, Australian Financial Services (AFS) Licensees and financial advisers face stringent compliance obligations regarding the collection, use, and protection of personal information. Read more

We recently learnt that 98% of the new advice licensees that commenced operation in 2023 were 'micro-licensees'-that is, licensees with fewer than ten advisers. Read more

The Australian Financial Complaints Authority (AFCA) complaints against financial firms in the banking and finance space rose 27% in the financial year ending 30 June 2023, bringing the total complaints in that sector to 53,638. Read more

There is no doubt the current economic climate is precarious. Continuing mortgage stress and cost-of-living pressures caused by the Reserve Bank of Australia's (RBA) series of rate increases is likely to result in more complaints being lodged with the ... Read more

Do I need an AML Licence in Australia? It is a commonly asked question. Read more

The Australian Financial Complaints Authority (AFCA) is an independent and external complaint resolution scheme which considers complaints from consumers against entities operating in the credit, financial services, superannuation, and insurance ind ... Read more

The Australian Securities and Investments Commission (ASIC) has made some helpful amendments via the ASIC Corporations and Credit (Amendment) Instrument 2023/589 (the Instrument) to Australian Financial Service (AFS) and credit licensees' obligations ... Read more

Artificial Intelligence (AI) presents unique regulatory and other risks that need to be managed. Read more

Legislation that seeks to recognise the experience of eligible existing providers (that is, financial advisers) as an alternative pathway to meeting the education requirements recently passed both houses of parliament and has received Royal Assent. Read more

The term 'managed investment scheme' is often used but not always well understood. You might have come across the term while planning a new business venture which will involve attracting investors and having them contribute funds. Read more