Licensing exemptions for foreign financial services providers

The Government is seeking stakeholder views on exposure draft legislation to provide Australian financial service licensing exemptions to foreign financial services providers (FFSPs). The exposure draft legislation seeks to introduce:

• a comparable regulator exemption
• a professional investor exemption
• a market maker exemption
• an exemption from the fit‑and‑proper person assessment to fast‑track the licensing process for FFSPs authorised to provide financial services in a comparable regulatory regime.