The Australian financial services framework involves a range of legislative and regulatory instruments, including the Corporations Act, the ASIC Act and other Commonwealth and State legislation that cover conduct relating to the provision of financial services.
This creates a complex network of rules and requirements which participants are required to navigate. Whilst this acts as a barrier to entry, it also represents a risk to participants to ensure activities and offers are structured and managed in a complaint manner.
MLC Legal offers a range of financial service related services, including:
- AFS licence applications
- Credit licence applications
- Advice on technical issues under the financial services laws
- Wholesale client assessment and guidance
- Promotion of foreign products
- Marketing and advertising requirements for financial products, including website reviews, disclaimers and review of marketing material
- Distribution and referral arrangements
- Managed discretionary account ("MDA") services, such as separately managed accounts ("SMAs") and individually managed accounts (“IMAs”)
- Anti-money laundering and counter-terrorism financing ("AML/CTF") requirements
- AML/CTF programs
- AUSTRAC reporting requirements