ASIC looks to introduce new CCIV licensing requirements

The paper, released on Thursday, 17 March, presents a number of proposals including how ASIC will assess AFS licence applications from corporate directors looking to operate a CCIV, assess applications from persons seeking to provide financial product advice on or deal in CCIV securities and administer licensee obligations that will apply to CCIV directors.

The requirements will come into effect on 1 July 2022.

“ASIC is committed to supporting the effective implementation of the CCIV regime,” ASIC deputy chair, Karen Chester said.

“Ensuring the regulatory guidance is up-to-date and fit-for-purpose when the new regime comes into effect is part of that commitment.”

The regulator is aiming to release the updated regulatory guides before 1 July 2022 in order to allow entities enough time to prepare for the regime commences.

Industry stakeholders and bodies are being encouraged to submit feedback before 14 April 2022.

Neil Griffiths

Neil is the Deputy Editor of the wealth titles, including ifa and InvestorDaily.

Neil is also the host of the ifa show podcast.