Regulatory Alerts2020-01-01
Financial Services (Exemption from Approval of Controllers and Beneficial Owners) (Revocation) Rules 2020
The Financial Services Commission issued these rules to revoke the 2017 exemption framework governing controllers and beneficial owners. This revocation reinstates standard approval requirements under the Financial Services Act for entities previously exempted from controller and beneficial owner assessments. Deemed effective from 9 July 2020, the rules formally took effect upon their promulgation on 22 October 2020.
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