About chris

Chris Mee is a leading lawyer in funds management and financial services in Australia.

Entries by chris

ASIC Suspends AFS Licence Following Change of Ownership

The Australian Securities and Investments Commission (ASIC) has suspended the Australian Financial Services (AFS) licence (number 239 946) held by Beacon Wealth Pty Ltd until 7 April 2026. The suspension follows Beacon Wealth Pty Ltd ceasing to carry on a financial services business. In June 2024, the company underwent a complete change in ownership and […]

Meeting Expectations: The Future of AGMs and Shareholder Engagement

The Australian Securities and Investments Commission (ASIC) recently discussed the evolving role of Annual General Meetings (AGMs) in corporate governance. This discussion centered on the increasing importance of technology in fostering greater transparency and shareholder participation. AGMs have traditionally served as vital forums for companies to communicate with their shareholders, ensuring accountability and open dialogue. […]

Full Federal Court finds in favour of ASIC in two appeals concerning Sunshine Loans

The Full Federal Court of Australia has ruled in favour of the Australian Securities and Investments Commission (ASIC) in two separate appeals involving Sunshine Loans, a small amount lender. The first appeal stemmed from a liability decision on 12 April 2024, where Justice Derrington found that Sunshine Loans had breached the National Credit Code by […]

ASIC proposes further relief for licensees under the reportable situations regime

ASIC is proposing additional relief to further assist Australian financial services and credit licensees comply with the reportable situations regime. ASIC’s proposed additional relief aims to reduce the reporting burden on industry while still ensuring that ASIC receives reports of high regulatory value. We are inviting feedback on our proposal to give relief from reporting […]

Buy Now, Pay Later regulations set to be finalised

The Albanese Government has released a further exposure draft of regulations governing Australia’s Buy Now, Pay Later (BNPL) sector for technical consultation. This marks the next step in bringing BNPL into line with other types of credit, highlighting the Albanese Government’s commitment to place Australia at the forefront of effective BNPL regulation while maintaining robust […]

ASIC alerts buy now pay later providers to apply for a licence under new laws

Buy now pay later products will be subject to stronger regulation with new laws boosting protection for Australian consumers. The National Credit Code has been extended to buy now pay later contracts, following royal assent of the Treasury Laws Amendment (Responsible Buy Now Pay Later and Other Measures) Act 2024 (the BNPL Act) on 10 December 2024. […]

Kraken crypto exchange operator to pay $8 million following ASIC enforcement action

Legal proceedings launched by ASIC have seen the Australian operator of the Kraken crypto exchange ordered to pay $8 million for unlawfully issuing a credit facility to more than 1100 Australian customers. From October 2021, Bit Trade Pty Ltd, which operated the Kraken exchange, had offered its customers a ‘margin extension’ product without a target […]