Providers of financial services involving digital asset financial products should act quickly to determine whether they require an Australian Financial Services (AFS) licence, or a variation to an existing licence, and apply by 30 June 2026 before ASIC’s no-action position expires. Firms that require a licence or a variation to their existing authorisations, but do […]
ASIC has released its implementation roadmap for the digital assets framework (see Figure 1), outlining how the new licensing regime for digital asset platforms and custody providers will be introduced ahead of its commencement in April 2027. The roadmap sets out the implementation period during which ASIC will consult on and finalise regulatory guidance and […]
The Corporations Amendment (Digital Assets Framework) Act 2026 (Cth) (Act) has now received Royal Assent, confirming the introduction of a new regulatory framework for digital asset platforms and custody arrangements. As discussed in our previous articles on the introduction of the Digital Assets Bill and the Senate Committee’s endorsement of the framework, the reforms adopt […]
ASIC has remade its relief for low-risk non-cash payment (NCP) facilities, extending the existing framework while broader payments licensing reforms remain underway. The new instrument, ASIC Corporations (Non-cash Payment Facilities) Instrument 2026/167 (ASIC Instrument 2026/167), replaces the previous 2016 instrument, ASIC Corporations (Non-cash Payment Facilities) Instrument 2016/211, and continues the relief until April 2031. Following […]
On 1 April 2026, the Treasury Laws Amendment (Genetic Testing Protections in Life Insurance and Other Measures) Bill 2026 (Bill) was passed by both houses of parliament. The Bill introduces a legislative framework for exemptions from the requirement to hold an Australian financial services licence (AFSL) for foreign financial services providers (FFSPs). Under section 911A […]
The Federal Court of Australia has ordered Oztures Trading Pty Ltd, trading as Binance Australia Derivatives, to pay a $10 million civil penalty following proceedings brought by the Australian Securities and Investments Commission (ASIC) in relation to failures in its client onboarding processes. The Court found that Binance Australia Derivatives had incorrectly classified a significant […]
NTA levels set to increase ASIC’s Consultation Paper 388 Net tangible assets requirement for responsible entities (CP 388) signals a likely uplift in capital requirements for responsible entities (REs) in the retail funds management sector. It also points to the beginning of a broader review that could eventually extend to wholesale trustees. For some fund […]
The Full Federal Court’s decision in The Property Mentors Australia Pty Ltd v Touch for Health Pty Ltd as trustee for Knight Superannuation Fund should be read closely by directors who approve or circulate information memoranda for property trusts and other investment vehicles. The Property Mentors and the Secret Harbour Unit Trust The Property Mentors […]
The Senate Economics Legislation Committee (Committee) has endorsed the Corporations Amendment (Digital Assets Framework) Bill 2025 (Digital Assets Bill), which is formal regulatory regime for digital asset platforms. Overview of the proposed framework As previously discussed in our article about the introduction of the Digital Assets Bill into Parliament (see link here), the Digital Assets […]
The Supreme Court of New South Wales has ordered Macquarie Securities (Australia) Limited (MSAL) to pay a $35 million civil penalty following proceedings brought by the Australian Securities and Investments Commission (ASIC) in relation to failures in its short sale reporting systems. The Court found that MSAL had incorrectly reported millions of short sale transactions […]