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Imminent changes to Australian rules for foreign financial service providers

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Denisenko Jason
Jason Denisenko

Partner

Sydney

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04 June 2018

The Australian Securities and Investments Commission has released a consultation paper in respect of potential reforms of the law applying to Foreign Financial Service Providers (FFSP), broadly foreign licensees who deal with Australian institutional clients.

The proposals represent a significant change to the existing regime, including a new licensing regime, which will replace the existing “passporting” regime currently allowing FFSPs to provide services to Australian clients by complying with the laws in their home jurisdiction.