The eagerly awaited detail of the proposed new foreign financial service provider (FFSP) exemptions from the need to hold an Australian financial services licence (AFSL) was released on 20 December 2021.

Earlier in 2021, Treasury consulted on restoring the ‘previously well-established regulatory exemptions’, and to create a fast-track licensing process for FFSPs wishing to establish more permanent operations in Australia. Following this consultation, Treasury released the exposure draft legislation.

Read the details on what is proposed in our summary here.

For more background to the FFSP reforms, see our earlier articles:

If you have any questions, get in touch with our experts below.

 

Fiona Smedley
Fiona Smedley
Partner
+61 2 9225 5828
Ewan MacDonald
Ewan MacDonald
Special Counsel
+61 2 9225 5351
Yorick Ng
Yorick Ng
Senior Associate
+61 2 9225 5568
Matt Dulaney
Matt Dulaney
Solicitor
+61 2 9322 4563

Tori Pearson
Tori Pearson
Solicitor
+61 2 9225 5663