We advise wholesale and retail financial services providers on market and regulatory requirements including AML/CTF Act, Chapters 5C and 7 of the Corporations Act, the ASIC Act, National Consumer Credit Protection Act, Insurance Act, Life Insurance Act and the Privacy Act. We are specialists in new product offerings, enforcement and investigations, governance, risk management, compliance, market conduct, complaints handling, financial crime and regulatory advice regarding transactions. Our lawyers advise on blockchain and crypto technologies and can register your digital currency exchange businesses with AUSTRAC, implement an AML/CTF program and obtain an AFS License for you. If you have a business providing financial services or financial products to clients, you will need to apply for an AFS License or receive approval from ASIC to be an authorised representative. We can assist you with both. We can manage the entire AFS License application process for you by streamlining our services to your business requirements including guiding you on ongoing compliance requirements. Our lawyers have prepared over 5,000 licence applications nationally and we also provide Responsible Managers if required.
Our expertise:
Conducting AFSL compliance audits, reporting on findings and making recommendations
Preparing applications to obtain or vary an AFSL (including a limited or foreign AFSL) and providing advice on authorisations, ASIC exemptions, the enhanced regulatory sandbox exemption and class order relief
Preparing compliance, governance and risk management frameworks and policies required to satisfy the Corporations Act and Regulations, ASIC Regulatory Guides and AFSL conditions
Developing financial products (managed investment schemes, deposit products, crypto assets, digital assets, non-cash payment facilities etc)
Advising on financial services regulation, AFSL compliance, acquiring an AFSL business, Digital Currency Exchange (DCE) regime, disclosure documents, selling restrictions, PDS and payment systems regulation
Assistance in obtaining professional indemnity insurance and membership with AFCA
Providing Target Market Determinations, Guidelines on advertising and marketing, AFSL training and workshops, and advising on Design and Distribution Obligations
Assistance enrolling with AUSTRAC, preparing an AML/CTF Program and advising on KYC, designated services, sanctions, PEPs, AML/CTF obligations, fraud and financial crime
Drafting authorised rep agreements, custody agreements, intermediary authorisation agreements, investment management agreements, financial services guides, distribution agreements etc
Dealing with regulators including ASIC, APRA, ACCC, ACMA, AUSTRAC and AFCA and assisting with regulatory investigations, enforcement proceedings, breach notifications, notices and enforceable undertakings
Advice on appointing Responsible Managers (or we can provide you with one), key person conditions and fit and proper persons
Providing off the shelf agreements and policy templates for in-house counsel
Contact us today to find out more about the financial services and financial services regulatory advice we provide on 1800 965 990 or info@cocounsel.com.au.