Chris Mee

About Chris Mee

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

Entries by Chris Mee

ASIC consults on financial services licensing requirements for corporate collective investment vehicles

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ASIC has released a consultation paper seeking industry feedback on its proposed licensing requirements for corporate collective investment vehicles (CCIVs). The licensing requirements will come into effect on 1 July 2022 when the CCIV regime commences. Consultation Paper 360 Corporate collective investment vehicles: Preparing for the commencement of the new regime (CP 360) contains proposals on a […]

ASIC releases guidance on crypto-asset related investment products

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ASIC has today released information for product issuers and market operators on how they can meet their regulatory obligations in relation to crypto-asset exchange traded products (ETPs) and other investment products. The information covers good practices for market operators in how they admit and supervise these products, and good practices for product issuers in how […]

ASIC consults on updates to relief for superannuation calculators and retirement estimates

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On Thursday 18 November 2021, ASIC released Consultation Paper 351 Superannuation forecasts: Update to superannuation calculators and estimates relief (CP 351) to seek stakeholder feedback on proposed updates to relief and guidance for superannuation forecasting tools. Superannuation calculators and retirement estimates are low-cost forecasting tools that are intended to be a helpful prompt for consumers to review […]

ASIC consults on consumer remediation draft guidance

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One Wednesday 17 November 2021, ASIC released a draft updated and expanded regulatory guide to consult on the way licensees should conduct remediations to return money owed to consumers.The draft guidance is an important step to improving remediation across the financial services industry. Proactive remediation upon discovery of misconduct or other failures is necessary for […]

ASIC releases guidance and examples on records of advice

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On Friday 5 November 2021, ASIC released an information sheet on records of advice (ROA) and three ROA examples to provide clarity to financial advisers and advice licensees on their obligations when using ROAs to provide personal advice to retail clients. INFO 266 FAQs: Records of Advice answers frequently asked questions (FAQs) about ROAs, including questions about […]

ASIC calls on Australian CEOs to review whistleblower policies

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On Wednesday 13 October 2021, ASIC released the following statement: Whistleblowers are an essential part of an organisation’s ability to detect misconduct and identify, escalate and address issues. ASIC has written to CEOs of public companies, large proprietary companies and trustees of registrable superannuation entities (RSEs) urging them to review their whistleblower policies to ensure […]

ASIC releases updated information about the distribution of superannuation products

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On Friday 15 October 2021, ASIC released an updated information for employers and trustees about changes affecting the distribution of superannuation products as a result of recent law reforms (refer Background). Employers have an obligation to ensure that superannuation guarantee contributions are paid on time to their employees’ superannuation fund of choice. ASIC’s Information Sheet 89, Communicating […]

ASIC publishes guidance on hawking reforms

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ASIC has published updated regulatory guidance on the prohibition of hawking financial products. ASIC’s updated regulatory guide (RG 38) reflects the reforms to the anti-hawking regime under the Financial Sector Reform (Hayne Royal Commission Response) Act 2020, which commence on 5 October 2021. These reforms flow from recommendations of the Royal Commission into Misconduct in the […]

Licensing and professional registration activities: 2021 update

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On Wednesday 15 September 2021, ASIC released the following statement: ASIC’s Licensing and professional registration activities: 2021 update (Report 700) outlines key issues, new and proposed changes to our licensing processes, and other work we have undertaken that affects licensees. Between July 2020 and June 2021, ASIC received 1,883 Australian financial services licence (AFSL) and Australian […]

Corporate Collective Investment Vehicles – Regulatory and Tax Frameworks

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The Government has released for public consultation legislation that implements the tax and regulatory components of the CCIV (corporate collective investment vehicle) regime and related explanatory materials. A CCIV is an investment vehicle with a corporate structure similar to comparable vehicles overseas. A single CCIV can offer multiple products and investment strategies within the same vehicle. […]