Foreword by Pauline Vamos, CEO, The Association of Superannuation Funds of Australia
Chapter One: Overview of Australia’s Funds Management Industry
Recent Investment Trends
Impact of Recent Global Financial Events
Chapter Two: Implications of Targeting Australian Investors
Implications for Foreign Fund Managers
Starting Point
The Usual Order of Events
Permanent Establishment
Overview of Treaty Relationships
Transfer Pricing
Chapter Three: Financial Services Regulation in Australia
Australia's Financial Services Laws
Australian Regulators and Supervisors
ASIC
APRA
The ATO
The ASX
Australian Transactions Reports and Analysis Centre
Regulation of Fund Managers
Chapter Four: Types of Vehicles that may be used for an Australian Collective Investment Scheme
Unit Trust
Company
Venture Capital Limited Partnership
Early-Stage Venture Capital Limited Partnership
Stapled Vehicles
Listed Vehicles
Chapter Five: Licensing of Fund Managers
When an ASF Licence is Required
What are Financial Services?
Types of Financial Services
When a Person carries on a 'Business'
Carrying on a Business in Australia
Client Types
Authorised Representatives
Chapter Six: Licensing Exemptions
General Statutory Licensing Exemption
Specific Statutory Exemptions for Foreign Fund Managers
Class Order Licensing Relief
General Conditions for Relying on Class Order Relief
Ongoing Compliance Requirements for Relying on Class Order Relief
Class Order Relief for Offshore Market Participants
Chapter Seven: Australian Regulated Funds
Registered Funds
Unregistered Schemes
Criteria for Registering a Fund
The Consitution
Compliance Plan
Compliance Committee
Charging Differential Fees to Investors
Chapter Eight: Preparing an AFS Licence Application and an Application to Register a Fund
Background on the ASF Licence Application Process
General Matters to Consider Before Beginning an Application
Electronic Application Form
Proof Documents - A General Overview
Proof Documents - The Difference Between Core Proof and Additional Proof Documents
Preparing Additional Proof Documents
Responsible Managers
Key Person
Changing an AFS Licence and/or Conditions
Fund Registration
Application to Register a Fund
When ASIC Must Register a Fund
Chapter Nine: Specific Investor Restrictions — Superannuation Fund Trustees
Restrictions of Superannuation Fund Trustee Investing - The Balance Between the General Law and the Statutory Framework
Contemporary Issues for Superannuation Fund Trustees
Chapter Ten: Disclosure Requirements to Australian Clients
Summary of Initial Disclosure Documents
Product Disclosure Statements
Financial Services Guides
Statement of Advice
Additional ASIC Disclosure Requirements
Ongoing Disclosure Requirements
Advertising Material
Misleading and Deceptive Conduct
Chapter Eleven: Ongoing Compliance Obligations
General Statutory Obligations of an AFS Licensee
Obligations of Responsible Managers
AFS Licensing Report
Financial Statements and Audit
Statutory Obligations of a Fund Manager Operating a Regulated Fund
Regulated Fund Reporting
Audit Requirements for Regulated Funds
Ongoing Obligation of a Fund Manager Operating Under Class Order Licensing Relief
