Australia Finfluencer Warning and New Trustee Obligations
ASIC warned social media finfluencers they could face imprisonment and fines if they do not obtain an AFSL. APRA released a discussion paper proposing to replace the Prudential Standard SPS 114 Operational Risk Financial Requirement with enhanced obligations for trustees.
Natasha Etschmann Prudential Standard Risk Financial Requirement Australian Securities And Investments Commission Australian Financial Services Licence Australian Prudential Regulation Authority
Source: natlawreview.com