What Fund Managers and Investors Need to Know

On 10 March 2020, following extensive consultation with industry, the Australian Securities and Investments Commission (ASIC) released its new regulatory framework for foreign financial services providers (FFSPs). These new rules are critically important for foreign firms (including asset managers and funds, brokers, foreign banks and other offshore institutions) undertaking wholesale financial services business into Australia.

In the second of our two-part podcast, Proskauer financial services and regulatory partner Kirsten Lapham is joined by Adam Laura, Head of the Investment Funds practice at international Australian firm Gilbert + Tobin’s to discuss what has changed for fund managers seeking to market to Australian investors and what they will need to consider going forward.

Podcast discussion includes:

• Route to market to investors in Australia under the new rules

• Timeframe for registering and obtaining a license

• Changes to Australian selling legends and marketing documentation

• AFS licensing regime