On 16 December 2005, the exposure draft of the long anticipated Anti-Money Laundering and Counter-Terrorism Financing Bill (Bill) was released for public comment.
The federal government announced on 11 October 2005 that it had agreed to proceed with a package of reforms to strengthen Australia’s AML/CTF system, with the next steps in the reform process being the release of the draft exposure Bill. This announcement followed on from the Financial Action Task Force of Money Laundering’s evaluation of Australia’s current AML/CTF system, which highlighted a number of improvements that Australia could make to assist in strengthening its current system.
There was also a lengthy period of consultation between the federal government, AUSTRAC and industry before the release of the draft Bill. Freehills was involved in the consultations with industry when it hosted two dialogues between industry and AUSTRAC in September 2005....
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On 6 December 2011 draft legislation for the Finance Bill 2012 was published containing a number of measures of interest for non-domiciled private clients and those visiting, coming to or leaving the UK.
This update summarises current regulatory developments in the European Union and the UK focusing on the investment funds and asset management sectors, during the past four weeks.
This update summarises current regulatory developments in the European Union and the UK, focussing on the investment funds and asset management and related sectors, during the past six weeks.
The Commodity Futures Trading Commission (CFTC) on December 20, 2011 finalized two rules related to swap data reporting, recordkeeping and public dissemination under the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 (Dodd-Frank Act).
On December 20, 2011, the US Commodity Futures Trading Commission (the CFTC or Commission) held an open meeting where it approved two final rules and one final order promulgated under the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank).
Regulation D under the Securities Act of 1933, as amended (the "Securities Act"), sets forth a safe harbor from the registration requirement of the Securities Act for certain private placements of securities, including those to "accredited investors."
On 7 December 2011, the European Commission published a proposal for a Regulation introducing a new EU-wide fund structure: the "European Social Entrepreneurship Fund" ("EuSEF").
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