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STARTing UP…HOW TO GET TO MARKET SOONER! 25 Mar 2020
So you’ve got an awesome idea, MVP or full product/service offering and are eager to disrupt the market… but don’t know how you’re regulated or how to comply? I’m not surprised! The Australian regulatory landscape is complex and can favour incumbents and the big end of town. Start-ups ..
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 ..
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- ..
FASEA CODE OF ETHICS - WHAT YOU NEED TO KNOW. 20 Feb 2020
We’re well into 2020 and the FASEA Code of Ethics (the Code) is currently in force. What should advisers and licensees be doing to make sure they comply with the Code? The Code came into effect on 1 January 2020. To make sure we’re all on the same page, I’ve answered some FAQs.  ..
CASHING IN ON PAYMENTS! 10 Feb 2020
Payments are a central part of everyday life but the regulations that govern them are complex. If Australia is to be a leader in the fintech space, it’s time for a holistic review of our regulatory framework for payments. Digital payments are on the rise Every purchase or sale we m ..
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 ..
ROYAL COMMISSION RESPONSE: CLAIMS HANDLING AS A REGULATED FINANCIAL SERVICE. 19 Dec 2019
Draft legislation on how ASIC will regulate claims handling has now been released by Treasury. Many businesses that handle and settle claims will need to be licensed as an AFS Licence holder or authorised representative by 1 July 2020. In the latest blog (https://www.finity.com.au/2019/12/ ..
STAMP DUTY – BE AWARE, BE PREPARED. 12 Dec 2019
Often the last thing on a Buyers mind when completing a new acquisition is the need to pay stamp duty. But pre-transaction, when buying assets such as a new client portfolio or book/list, stamp duty is assessed based on the location of the assets purchased and the purchase price paid. Genera ..
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