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australian commision requires each and every piece of information about its brokers

**One week ago, australian Securities and Investments Commission (ASIC), in accordance with the new Product Intervention Law, was granted with a set of ‘tools’ that can be applied if brokers offer their products to wrong customers.** ASIC has already started to actively use its new powers. The regulator has issued a data collection notice to brokers, requiring a great deal of information...

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A raising trend of investment scams in australia

**Scamwatch**, an organization operated by the australian Competition and Consumer Commission (ACCC), recently released a report stating that **investment scams in australia are becoming ever more frequent**. In the mid of June, from 18/06/2018 to 24/06/2018, the **top scams that targeted australians were Investment schemes**. In the course of these fraudulent schemes, australians reported lo...

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5 signs of booming blockchain innovation in australia

australia. Plenty of images come to mind when we think of the land down under. Sun-bleached surfers, wallabies, the Sydney Opera House. But, australia, despite its modest population of 23 million, is more than just a faraway tourist destination. The home of kangaroos, koalas, AC/DC, and vegemite is well on its way to becoming a world leader in the blockchain space. Here are at least five signs of...

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The new identification system for australian directors

The Government of australia is moving towards improving the efficiency of australian business and the accountability of directors running businesses by implementing special identification numbers for directors. Proposed law amends the Corporations Act and the Corporations (Aboriginal and Torres Strait Islander) Act 2006 (CATSI) to initiate a **director identification number (DIN) requirement*...

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An upcoming new trade agreement between australia and Indonesia

Indonesia and australia have announced the conclusion of negotiations on the matters of a new trade deal that will have a major impact on the economics of both countries. One of australian representatives said that **relations between australia and Indonesia would be greatly improved** by signing of the new agreement. Indonesian President Joko Widodo and australian Prime Minister Scott Morriso...

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australia is planning to implement blockchain technology in order to automate transaction reporting

**The australian Transaction Reports and Analysis Centre (AUSTRAC) currently is testing a blockchain prototype with a goal of funds transfer automation.** ZDNet reported this Sunday that the AUSTRAC has partnered with the Swinburne University of Technology in Melbourne for the purpose of building a model for testing. The aforementioned associates will particularly test how blockchain and rela...

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australia adopted a new product intervention law

Under the new law, the australian Securities and Investments Commission (ASIC) is gaining the same powers ESMA has in Europe, but it might be limited in using those for the next two years. The Design and Distribution Obligations and Product Intervention Powers Bill or simply Treasury Laws Amendment has recently passed both houses of australian Parliament. **A new bill is going to essential...

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A new license assessment procedure will be adopted for certain AFS applicants

The australian Securities & Investments Commission (ASIC) has recently adopted a new approach to its financial services licensing procedures (AFS) for certain applicants. ASIC has also released an actual guideline in this regard. Warren Day, ASIC Executive Director said the following: *"ASIC has reviewed the AFS license assessment processes and has streamlined its assessment processes in so...

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SFC Forewarns Retail FX Brokers To Stay Away From Doing Business In China

...mediately review the legality of their activities under Mainland law and regulations. Any non-compliant activities should be discontinued immediately and be notified to the SFC. The SFC’s statement was remarkably similar to warnings issued by the australian Securities and Investments Commission during the past months. Read our blog to keep abreast of all **actual and interesting forex news**...

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Starting offshore business in Vanuatu

*Vanuatu is a popular offshore jurisdiction situated near australia. Why is this country considered as one of the friendliest locations for starting up the company? We will answer most popular questions about Vanuatu offshore company formation and give you a professional advice.* **What are the benefits of doing business in Vanuatu?** Banking system is one of the most important arguments in ...

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New anti-money laundering rules for crypto exchanges in Norway

...vide information about the purpose of a transaction and/or the origin of funds. Service providers will have to report suspicious transactions to the FSA. It is worth noting that there are identical rules for digital currency exchange platforms in australia. These businesses are required to comply with a range of AML/CTF requirements, including: • Implementing and maintaining an AML/CTF pro...

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World Bank launches first global blockchain bond-i and raises AU$110 million

...ime that investors have supported the World Bank’s development activities in a transaction that is fully managed using the blockchain technology, as was stated in press release of the World Bank. **The World Bank authorized Commonwealth Bank of australia (CBA) as arranger for the bond** at the beginning of August 2018. The authorization statement was followed by a two-week consultation interv...

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Vanuatu International Business Company Formation

...ithin 5 working days + delivery time for the courier Minimum paid up capital: No minimum capital requirement   Overview Vanuatu, officially the Republic of Vanuatu, is an archipelago in the South Pacific Ocean, east of australia west of Fiji and North of New Zealand, consisting of a chain of 13 principal and many smaller islands. When it comes to offshore bus...

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Marshall Islands International Business Company Formation

...orking hours + delivery time for the courier Minimum paid up capital: No minimum capital requirement Overview The Republic of Marshall Islands (RMI) is an island country located approximately midway between Hawaii and australia in North Pacific Ocean. The state has modern and stable business environment with flexible jurisdiction and is politically stable. The curre...

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Euro Pacific Bank Account Opening

...l Partner of Saxo Bank, the Bank is able to pass along foreign exchange savings rates of up to 80% over traditional retail banks. The Bank also maintains the distinction of acting as the only bank, which is also Approved Dealer for the Perth Mint in australia.Payment processing options MasterCard, Visa Restrictions All CIS countries (also Russia, Ukraine and Belarus), USA, OECS (Organizat...

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Euro Pacific Bank Account Opening

...l Partner of Saxo Bank, the Bank is able to pass along foreign exchange savings rates of up to 80% over traditional retail banks. The Bank also maintains the distinction of acting as the only bank, which is also Approved Dealer for the Perth Mint in australia.Payment processing options MasterCard, Visa Restrictions All CIS countries (also Russia, Ukraine and Belarus), USA, OECS (Organiz...

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Vanuatu Dealer's in Securities License

... Minimum paid up capital: No minimum capital requirement.  Instead, government bond of approx. USD 50 000 is used. Overview Vanuatu, officially the Republic of Vanuatu, is an archipelago in the South Pacific Ocean, east of australia west of Fiji and North of New Zealand, consisting of a chain of 13 principals and many smaller islands. To obtain a license it is requi...

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Fiji Foreign Exchange Dealer License

... shareholder(no nationality restrictions) Taxation Value added tax (VAT) - 9% Company Corporate Tax - 20% (Loss carryback years) Withholding Taxes: Dividends: 0/15%, Interests: 10%, Royalties: 15% 8 Tax treaties: New Zealand, Japan, australia, UK, Singapore, UAE, Malaysia, South Korea Accounting & Audit  The Regulator may determine in its discretion to have acc...

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