The passing by both Houses of the Bill to introduce the Asia Region Funds Passport (ARFP) is good news for the Australian financial services industry and will play a key role in facilitating growth in the region, says Chris Donohoe, CEO of APIR.
The Banking Royal Commission has brought the issue of regulation, and consumer protection, top of mind, but it will be important that any increased regulation that occurs as a result is not out of step with the regulatory developments in the rest of
Traditionally standard identifiers have been used by the wealth management industry to improve efficiencies in transaction processing, reporting and information flows. In some jurisdictions such as Australia identifiers also play an important role
The release of draft legislation and launch of a pilot program for the Asia Region Funds Passport (ARFP) is a positive step in the initiative to facilitate cross-border distribution of funds between member jurisdictions. Importantly,
The decision by the European Securities and Market’s Authority (ESMA) to extend the 3 January 2018 Legal Entity Identifier (LEI) deadline for six months, to support the smooth introduction of the requirements is
Australian financial services entities including funds, brokers/traders and trustees of self-managed superannuation funds may be unable to transact with European counterparties from 3 January 2018 if they don’t yet have a Legal Entity Identifier