FS regulatory | Financial accountability regime (FAR) | Governance | Risk Frameworks | AFSL licensing | Cryptocurrency | Digital Assets | Funds management | Structured products | Payments reforms
The Ministers’ rules for FAR have been published – attached is a comparite. Initial views are that: - the prescribed roles e.g. CPO, CRO, Head of Financial Advice, etc across prudential entities have not materially changed; and - the enhanced notification thresholds have increased i.e. there will likely be less enhanced reporting entities (though everyone still needs to undertake a FAR implementation). The next key milestone is APRA’s / ASIC’s release of their "primary areas of focus" for GIs, LIs and RSEs this month (if their past timeframe holds). Expect another regulatory landgrab, if the banks’ experience is anything to go by / as we detailed in our public submissions to APRA / ASIC, and with the greatest respect to our friends at "The Regulators" (we do like the new sign-off though, in the official FAR emails!).
