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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  ..
ADVISING ON PLATFORMS ISN’T JUST ABOUT PRICE. 01 Dec 2020
Super and investment platforms aren’t all the same, and your advice shouldn’t be either. All too often financial advisers focus solely on price, which means you may not meet your legal obligations and fail to properly address the needs and objectives of your clients. In this paper (htt ..
INSURANCE PDS OBLIGATIONS – TICKING THE BOX AND THINKING OUTSIDE IT. 23 Nov 2020
Product Disclosure Statements (PDSs) are subject to a range of regulatory obligations but they can also support commercial objectives (for example, a business that prides itself on speaking in plain English might want to present easy-to-read documents). Below is a short refresher on content vs c ..
CLIENT MONEY RULES – ‘X’ MARKS THE OBLIGATIONS. 02 Oct 2020
Australian Financial Services (AFS) licensees holding client money are on ASIC’s radar, with a particular focus on intermediaries demonstrating high financial risk or stress. This follows two recent cases where AFS licensees faced criminal prosecution for breaching client money provisions.  ..
REGULATORY RESPONSE: CHANGES TO INTERNAL DISPUTE RESOLUTION REQUIREMENTS. 29 Sep 2020
ASIC released its new Regulatory Guide (RG 271) on complaints handling and dispute resolution standards and requirements on 30 June 2020. RG 271 replaces the existing RG 165 and takes effect for complaints received from 5 October 2021 on. In the latest blog (https://www.finity.com.au/2 ..
CREDIT WHERE CREDIT IS DUE – YOUR DESIGN AND DISTRIBUTION OBLIGATIONS. 22 Sep 2020
The Design and Distribution Obligations (DDO) have received a lot of attention lately, but did you know that they apply to credit products? Different obligations apply depending on whether you’re a product issuer or product distributor. When do the DDO apply? The DDO were d ..
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