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The Association of the Luxembourg Fund Industry (ALFI) has announced that it has successfully negotiated an exemption from the obligation to hold an Australian financial services (AFS) licence to provide financial services in Australia.
The exemption applies to Chapter 15 Management Companies and UCITS Self-Managed SICAV regulated by the Luxembourg financial supervisory authority Commission de Surveillance du Secteur Financier(CSSF). This relief will enable Australia's institutional investors, including superannuation funds, to get easier access to Luxembourg UCITS. As a rule, a foreign financial services provider (FFSP) needs to hold an Australian financial services (AFS) licence to provide financial services in Australia, unless relief is granted. The Australian...
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