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On 20 December 2021, the Department of the Treasury of the Australian Government (Treasury) released the Treasury Laws Amendment (Measures for Consultation) Bill 2021: Licensing exemptions for foreign financial service providers exposure draft legislation (Amendment Bill) on the new proposed exemptions for foreign financial service providers (FFSPs).
Regulatory developments in the funds management and financial services industry have continued unabated in 2020. Many of the developments have been introduced to implement the recommendations of the Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry (Royal Commission). Not all regulatory developments have enjoyed the same level of attention from the Government.
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