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HOW TO USE CUSTOMER INFORMATION FOR MARKETING & REFERRALS. 05 Oct 2017
Sharing Client Information Organisations often want to use customer information for marketing and to pass it on to third parties with whom they have arrangements such as strategic alliances and referrals. Although it’s not strictly necessary to obtain the customer’s consent to do so, you do ..
CAPITAL RAISING - BETWEEN SEED AND SERIES A 03 Oct 2017
As the start-up sector matures, capital raising opportunities are increasingly available at the crucial transition stage between seed and series A. This blog looks at the options and traps to be wary of to avoid hindering future growth and capital raising opportunities. Capital raising opti ..
ASIC SHINES LIGHT ON MDA CHANGES. 29 Sep 2017
ASIC has recently provided welcome clarity on a number of issues raised by The Fold Legal in conjunction with IMAP regarding the MDA regulatory changes - which will be welcome to MDA providers who’ve been working hard to meet the 1 October 2017 deadline. Here’s a thumbnail summary. Exte ..
GLOBAL REGULATION OF ICOS. 29 Sep 2017
In the past 2 months, waves of information have rolled in from global regulators about the legal status of ICOs – welcome news to the blockchain community which has been labouring in a sea of uncertainty. Following the early lead of the US Securities & Exchange Commission, regulators in ..
UNLICENSED ACCOUNTANTS ASKED TO “PLEASE EXPLAIN”. 15 Sep 2017
ASIC is sending “please explain” letters to accountants they believe may be in breach of financial services laws. For some time, ASIC has hinted that they will monitor unlicensed accountants activities and they’ve now followed through with the help of some new technological weapons. It appe ..
RECRUITMENT CHOICES CAN AFFECT YOUR COMPLIANCE. 08 Sep 2017
Employing someone with a conviction or bankruptcy can jeopardise compliance with an Australian Financial Services (AFS) licensee’s obligations. ASIC can ban any person it considers to not be of ‘good fame and character’. It can suspend an AFS licence if a significant representative of a lic ..
LICENCES AND RESPONSIBLE MANAGERS FOR SALE. 31 Aug 2017
A thriving secondary market for AFS licences, credit licences and Responsible Managers (https://www.thefoldlegal.com.au/blog/responsible-managers) exists in Australia. Foreign exchange businesses can command ludicrously high sums for AFS licences for these rare and hard-to-get authorisation ..
ASIC’S USER-PAYS REGIME INCREASES LICENSEE COSTS. 23 Aug 2017
Since 1 July 2017, most businesses who are regulated by ASIC must pay a levy to fund ASIC’s work, a cost that was previously borne by taxpayers. Who must pay The ASIC Supervisory Cost Recovery Levy Act 2017 imposes the levy on financial services, credit service and, market infrastructu ..
SUPPORTING WOMEN IN FINANCE. 11 Aug 2017
We don’t choose who we work with based on their gender, but we do understand how challenging it can be for a woman to stand out in the financial and technology sectors. That’s why we’re proud of our Managing Director, Claire Wivell Plater’s nomination for Fintech Leader of the Year in the Wo ..
3 TIPS TO WRITE AN SoA YOUR CLIENTS WANT TO READ. 29 Jun 2017
Most clients don't read Statements of Advice (SoA) because they are far too long. This renders them ineffective and exposes advisers to the risk that their client may not understand the advice they've been given. If things go wrong down the track it may even leave advisers on the hook if the SoA ..
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