The current state of play for foreign financial services providers in Australia

Jason Denisenko, Christopher Scarf and Vivien Liu from our regulatory team in Sydney summarise the latest developments in the saga that is Australia’s financial services licensing regime. They briefly discuss the new proposed forms of relief and exemptions available to foreign financial services providers, how they will be applicable and some of the key points that foreign entities may want to consider when applying or transitioning from existing arrangements.

Update: As of 1 December, a bill including the proposed changes discussed in this podcast was introduced to Parliament. Following several years of consultations, this is a significant step for the foreign financial services licensing regime.  We will continue to monitor the progress of this bill.