Treasury consults on AFS licensing exemptions for FFSPs, ASIC extends licensing exemptions

Treasury is consulting on exposure draft legislation that provides Australian financial service (AFS) licensing exemptions to foreign financial services providers (FFSPs).

The draft legislation, Treasury Laws Amendment (Measures for Future Bills) Bill 2023: Licensing exemptions for foreign financial services providers, seeks to introduce: a comparable regulator exemption; a professional investor exemption; a market maker exemption; and an exemption from the fit‑and‑proper person assessment to fast‑track the licensing process for FFSPs authorised to provide financial services in a comparable regulatory regime. According to the draft legislation, its...

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Published Date: 09 August 2023