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BIG CHANGES AT THE FOLD LEGAL. 17 Jun 2021
The Fold Legal Pty Ltd is excited to announce that we are joining Halo Group Holdings Pty Ltd (Halo Group), from 1 July 2021. The Fold Legal is a specialist industry-focused firm, providing regulatory, corporate and commercial advice to financial services and credit businesses nationally. Th ..
A WINTER CHANGE IS COMING – FEE CONSENT AND LACK OF INDEPENDENCE. 01 Jun 2021
Courtesy of the latest round of Royal Commission legislation (https://www.legislation.gov.au/Details/C2021A00019), from 1 July 2021 financial advice firms need to update their Financial Services Guides (FSGs), Ongoing Service Agreements and Financial Disclosure Statements (FDSs). The key cha ..
BREACH REPORTING IS ABOUT TO BECOME MORE ONEROUS. 30 Mar 2021
A new breach reporting regime will commence on 1 October 2021 and it will be more onerous on licensees than ever before. One of the most notable changes is that credit licensees are now required to report significant breaches for the first time. In this blog, we outline the other key changes tha ..
BNPL CODE – TO B OR NOT TO B A MEMBER? 11 Mar 2021
The Australian Finance Industry Association (AFIA) has released a new voluntary Buy Now Pay Later (BNPL) Code (Code) to address criticism that the industry is under-regulated and to enhance consumer protections. The objective of the Code is to encourage a customer centric approach, promote indus ..
BEST INTERESTS DUTY - MORTGAGE BROKERS JOIN THE CLUB. 11 Feb 2021
The new mortgage broker's best interests duty obligations are wide reaching. They may apply even if you’re providing credit assistance that doesn’t relate to a mortgage. Who does it apply to? The mortgage broker’s best interests duty came into effect on 1 January 2021. It applies to: ..
THE FOLD ADVISES LIMEPAY ON ITS JOINT VENTURE WITH DOMAIN GROUP. 18 Jan 2021
Limepay is Australia’s first enterprise payments fintech to launch a merchant-branded platform that seamlessly integrates online payments and buy now, pay later (BNPL) functionality to provide a native and frictionless customer experience. Unlike third-party services like Afterpay, Limepay enabl ..
DEFERRED SALES MODEL: ADD-ON INSURANCE & THE COMPLIANCE BURDEN. 17 Dec 2020
The Financial Sector Reform (Hayne Royal Commission Response) Bill 2020 was passed by Parliament on 10 December 2020. As part of the reforms proposed by the original Royal Commission Report, the Bill includes a deferred sales model for add-on insurance products. In our latest blog (https:// ..
CLAIMS AS A FINANCIAL SERVICE: WHAT YOU NEED TO KNOW. 15 Dec 2020
The Financial Sector Reform (Hayne Royal Commission Response) Bill 2020 was passed by Parliament on 10 December 2020. In our latest blog (https://www.finity.com.au/2020/12/09/claims-as-a-financial-service-almost-there) with Finity Consulting we outline the key points and what you need  ..
THE FOLD ADVISES LIMEPAY ON ITS PRE-IPO CAPITAL RAISING. 09 Dec 2020
Limepay is Australia’s first enterprise payments fintech to launch a merchant-branded platform that seamlessly integrates online payments and buy now, pay later (BNPL) functionality to provide a native and frictionless customer experience. Unlike third-party BNPL services, Limepay enables merch ..
PROTECTING VULNERABLE INSUREDS – NOT AS STRAIGHTFORWARD AS IT SEEMS. 07 Dec 2020
From 1 July, subscribers to the General Insurance Code of Practice 2020 (Code) must take extra care of small businesses and individuals who have purchased a retail insurance product and are ‘vulnerable’. When and who does the Code apply to? The Code launched on 1 January 2020 but most  ..
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