Foreign Financial Services Provider (FFSP) relief instruments - Australian Securities and Investment Commission
On 21 September 2018 the Australian Securities and Investment Commission (ASIC) extended the following instruments, without significant amendments, for a period of 12 months until 30 September 2019:
- ASIC Corporations (Repeal and Transitional) Instrument 2016/396;
- ASIC Corporations (Foreign Financial Service Providers—Limited Connection) Instrument 2017/182; and
- ASIC Corporations (CSSF-Regulated Financial Services Providers) Instrument 2016/1109.
Foreign financial services providers (FFSPs) dealing with Australian wholesale clients are exempt from the requirement to hold an Australian financial services (AFS) license where they are regulated under overseas regulatory regimes that ASIC has assessed as sufficiently equivalent to the AFS licensing regime.