Obtaining your own Australian financial services (AFS) licence or varying an existing AFS licence can be a complex process. But before you begin, you need to consider some key questions. Holding your own AFS licence is an important step for any financial…

The Administrative Appeals Tribunal (AAT) has affirmed ASIC’s decision to ban a funds management director on the basis that she was not competent and adequately trained to perform her duties. Background The AAT’s decision needs to be considered in a broader context…

This is the third article in CNM Legal’s four-part series: A Guide to Public Investment Funds. The series provides an overview of registration, regulation, marketing and tax treatment of public investment funds in Australia. This article will discuss marketing of public investment…

This is the second article in CNM Legal’s four-part series: A Guide to Public Investment Funds. The series provides an overview of registration, regulation, marketing and tax treatment of public investment funds in Australia. This article will discuss the regulatory framework for…

This is the first article in CNM Legal’s four-part series: A Guide to Public Investment Funds. The series provides an overview of registration, regulation, marketing and tax treatment of public investment funds in Australia. This article will discuss the topic of the registration…

Most probably do. There is a common fallacy in the investment industry that only financial planners give personal advice. That’s simply not true! The law defines personal advice broadly: all you need to do is take into account one of your client’s objectives,…

If you have ever wondered whether you need an Australian financial services licence (AFSL) if you operate a financial services business in Australia but all your clients are overseas, then the answer is ‘yes’. In Motor Vehicles Insurance Ltd v Woodlawn Capital Pty…