The Australian Securities and Exchange Commission has extended the transitional relief for foreign financial services providers (FFSPs) from the requirement to hold an Australian financial services (AFS) licence for 12 months to 31 March 2013. The Government announced that as part of the Federal Budget released on 11 May 2021, it will consult on options to restore regulatory relief for FFSPs who are licensed and regulated in jurisdictions with comparable financial service rules and obligations or have limited connection to Australia, from holding an AFS licence. It will consult on creating a fast-track licensing ... (full story)