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AN AFS LICENSING EXEMPTION FOR PRODUCT ISSUERS - INTERMEDIARY AUTHORISATION. 30 Jun 2020
Providing financial products to retail clients in Australia is almost impossible unless you hold an Australian financial services (AFS) licence. The intermediary authorisation exemption is virtually the only way product issuers can avoid licensing provided it’s used correctly. What is  ..
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 ..
SAVE TIME AND MONEY WITH OUR PORTFOLIO TRANSFER AGREEMENT TEMPLATE. 21 May 2020
As the Covid-19 pandemic continues (despite some restrictions now lifting), client portfolio transfers still need to get done. You can record your transaction in a time and cost-efficient way with our easy to use, fixed price, customisable template. Who can use the template?  ..
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 ..
DELIVERING DOCUMENTS ELECTRONICALLY. 12 May 2020
With the ongoing Coronavirus pandemic, more businesses are communicating with clients electronically. But what are your options when you need to supply or sign documents? Financial professionals must give their clients certain documents, including: Product Disclosure Statements ..
THE REVISED REFORM TIMETABLE FOR GENERAL INSURANCE. 07 May 2020
Regulators have shifted their priorities to deal with the COVID-19 pandemic. This means significant reforms and legislative change to general insurance may be delayed. We outline what’s changed and when you need to be ready for reform. Licence applications are delayed APRA will not issu ..
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 ..
DESIGN AND DISTRIBUTION – THE COUNTDOWN IS ON. 08 Apr 2020
Design and Distribution Obligations (DDO) will be imposed from 5 October 2021. While a number of legislative reforms have been delayed due to the disruption from the global Covid-19 pandemic, this legislation has been passed and may not be delayed. Business may have slowed down, but that ma ..
GROUP PURCHASING BODIES – THE POWER, PROS AND CONS. 06 Mar 2020
A group purchasing body (GPB) arranges or holds insurance or risk cover for its members. They don’t have to meet some legal requirements (like holding an AFSL) but with these benefits come certain constraints. What do GPBs do? A GPB is anyone who arranges or holds insurance or risk  ..
ROYAL COMMISSION RESPONSE: DEFERRED SALES MODEL FOR ADD-ON INSURANCE. 28 Feb 2020
After two separate consultation papers on the deferred sales model (DSM) for add-on insurance, Treasury has released an exposure Draft Bill, exposure Draft Regulations, an Explanatory Memorandum and an Explanatory statement. In our latest blog (https://www.finity.com.au/2020/02/27/deferred- ..
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