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.