On 20 December 2013, the Assistant Treasurer, Senator the Hon Arthur Sinodinos, announced reforms to the Future of Financial Advice (FOFA) legislation.
The Government has stated that, while it...more
On 9 December 2013, AUSTRAC released draft amendments to the Anti-Money Laundering and Counter-Terrorism Financing Rules Instrument 2007 (No. 1) (AML/CTF Rules) in relation to customer due diligence (CDD).
In This Issue:
..New grandfathering regulations coinciding with the commencement of FOFA
..ASIC increases NTA requirements for custodians
..New Basel III disclosure requirements
The Australian Prudential Regulation Authority (APRA) recently released the new Prudential Standard APS 330 Public Disclosure (the Standards). The Standards, which are legally binding, require locally incorporated authorised...more
Welcome to the tenth edition of Baker & McKenzie's Asia Pacific Financial Services and Regulatory Newsletter. This edition highlights some of the key regulatory developments in Australia, Hong Kong, Singapore, Thailand and...more
The Australian Securities & Investments Commission (ASIC) recently released Consultation Paper 205 Derivative transaction reporting (CP 205) seeking feedback on its proposals to implement a derivative transaction reporting...more
The UK's Financial Services Authority (FSA) is consulting on when and how its successor body, the Financial Conduct Authority (FCA), may make temporary product intervention rules, as part of its new approach to regulating...more
The Significant Investor Visa was recently introduced by the Government, providing a new pathway for migrants who invest more than A$5 million in certain Australian investments and opening the door to more...more
The Federal Court handed down its judgement in the case of Bathurst Regional Council v. Local Government Financial Services Pty Ltd (No.5)  1200. The case was a class action brought by 13 councils...more
As part of the ongoing reform and investigation into Australia's OTC derivatives market the Australian Prudential Regulation Authority (APRA), Australian Securities and Investments Commission (ASIC) and the Reserve Bank of...more
The Australian Prudential Regulation Authority (APRA) has released a package of final measures to complete APRA's implementation of the Basel III capital reforms for authorised deposit taking institutions (ADIs) in Australia....more