ASIC Relaxes License Deadline for Foreign Financial Firms

[kreslik.news]

The Australian Securities and Investments Commission (ASIC) has relaxed its deadline for foreign financial services providers (FFSPs) in Australia to hold a financial services licence in the country.

Originally, FFSPs needed to have an Australian financial services licence secured by the end of this September if they wanted to continue to offer their services within the country. Today, however, ASIC announced that it has extended the deadline until September 30, 2019.

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However, the extended deadline does come with some conditions. FFSPs can only provide specified financial services in Australia if the regulation in ... (read more)