CP 315 Foreign financial services providers: Further consultation

CP 315 Foreign financial services providers: Further consultation

Released听3 July 2019. Comments close听9 August听2019.

This paper is for foreign financial services providers (FFSPs) that wish to provide financial services in Australia to wholesale clients or professional investors only. It seeks feedback on our proposal to introduce Australian financial services (AFS) licensing relief for FFSPs known as the 鈥榝unds management鈥� relief to allow FFSPs to provide relevant services to professional investors in Australia. We will proceed with repealing 鈥榣imited connection鈥� relief as we have previously proposed.

We are not currently proposing to give AFS licensing relief to allow FFSPs to provide financial services to professional investors in Australia where the investor initiates an inquiry about the service (鈥榬everse solicitation鈥� relief). This paper seeks feedback on this issue.