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3 TIPS TO RAISE FUNDS EFFICIENTLY IN A TOUGH MARKET. 22 Jun 2020
To commercialise and grow, your business needs capital. But the ongoing fallout from COVID-19 means this may be easier said than done. For a variety of reasons debt may also not be affordable or attainable. Waiting it out may not be viable for your cashflow, could be detrimental to your str ..
MORE THAN A SYNONYM – WHAT IS A FIT AND PROPER PERSON? 19 May 2020
The ‘fit and proper’ person test previously only applied to credit licensees – but now it applies to AFS licensees as well. The change is bigger than it looks Previously AFS licensees had a lower threshold test that a person be of ‘good fame and character.’ On the face ..
RETAIN STAFF AND INCREASE BUSINESS WITH NON-CASH INCENTIVES. 05 May 2020
The COVID-19 pandemic is testing us all but innovation is thriving. Increase revenue, retain cash and keep staff and referral partners motivated by being innovative with non-cash incentives. If done right your business will be ready to ramp up quickly when the economy takes off again …whe ..
5,000 REASONS WHY YOU SHOULD TRUST YOUR MORTGAGE BROKER. 17 Mar 2020
Mortgage brokers must meet the best interests duty from 1 July 2020 or risk a fine of 5,000 penalty units or $1.05 million.This means you must show you have your client’s best interests at heart. Who is a mortgage broker? A mortgage broker: is either a licensee or credit r ..
NEW COMPENSATION SCHEME – LAST CHANCE TO HAVE A SAY. 03 Feb 2020
The Government will introduce a Compensation Scheme of Last Resort by the end of this year. You have until 7 February 2020 to submit your views on how it should work. The new Scheme will compensate the consumer or small business if AFCA makes a determination for compensation that is not pai ..
MARKET TRENDS: WHY TERM SHEETS ARE IMPORTANT AND WHAT TO INCLUDE IN YOURS. 30 Jan 2020
A well-drafted term sheet can save time and money when negotiating a sale agreement. Why do you need a term sheet? Term sheets are an important step to include in your transaction timeline. They set the foundations upon which the transaction agreement is based. It can prevent ..
SO MUCH FOR BUY NOW, REGULATE LATER. 18 Oct 2019
Buy now pay later is regulated in a number of ways even though it isn’t ‘consumer credit’ under the National Credit Code. Some consumer protections apply to buy now pay later The consumer protection provisions in the ASIC Act apply to buy now pay later. This includes prohibitions on:  ..
DON'T BE BLOWN OFF YOUR FEET BY THE NEW WHISTLEBLOWER PROTECTIONS. 06 Sep 2019
New whistleblower protections expand who is protected and what they can disclose. This regime applies to regulated companies and financial service providers including banks, life companies, general insurers and superannuation funds. More people are now protected whistleblowers  ..
THE FOLD BOLSTERS ITS TEAM WITH PROMOTIONS & NEW ADDITIONS. 01 Aug 2019
We’re delighted to announce that Simon Carrodus (https://www.thefoldlegal.com.au/people/simon-carrodus), who joined The Fold in early 2018, has been promoted to Solicitor Director. Simon leads our wealth management practice, and whilst many know him for his colourful analogies and straight-talk, ..
LENDERS MAY NEED TO VARY THEIR LICENCE TO SELL AT POS. 23 Jul 2019
Financiers who distribute through retailers may need to vary their licence in preparation for the end of the point-of-sale (POS) exemption. The exemption was flagged to go by the Royal Commission. The credit representative model is the most obvious one to replace it. This will place fin ..
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