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  • Anti-Money Laundering & Counter Terrorism Financing
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    Australia’s financial service providers and others have until 12 December 2007 to get their anti-money laundering / counter-terrorism financing (AML/CTF) programs in place. read more.... 
     
  • Recent legislative changes in relation to rights issues
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      Recent amendments to the Corporations Act 2001 (Act) permit listed companies and managed investment schemes to raise capital through a rights issue without preparing a prospectus or product disclosure statement (PDS).  Before taking advantage of this new simplified approach to capital raising, listed entities should consider the associated benefits, limitations and risks.  read more...
     
  • ASIC focuses on liquidity and withdrawal disclosure
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      The Australian Securities & Investments Commission (ASIC) is currently paying particular attention to liquidity and withdrawal rights in registered managed investment schemes, and has issued a consultation paper (Consultation Paper 84) on the issue.   read more...
     
  • The investment horizon opens up for super trustees
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    Trustees of superannuation funds are finding it increasingly difficult to identify appropriate investment opportunities for the substantial resources now invested in superannuation.  read more...

     
  • ASIC and Westpoint:  The Mechanics of a Collapsing Mezzanine
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      The collapse of the Westpoint group and the loss of many millions of dollars of investors’ funds has been the subject of much publicity.  ASIC has recently announced that it will commence legal action to recover damages on behalf of investors in respect of various Westpoint developments.   read more...
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     Anti-Money Laundering & Counter-Terrorism Financing

     

    Australia’s financial service providers and others have until 12 December 2007 to get their anti-money laundering / counter-terrorism financing (AML/CTF) programs in place.

    Deadline - 12 December 2007!

    Hall and Wilcox can provide you with a comprehensive AML/CTF program which we have developed and can quickly tailor it to your specific needs.

    The Hall and Wilcox AML/CTF program assists you to meet your obligations and includes:

    • Documented procedures in line with the specific obligations under the AML/CTF Act.

    • Processes to ensure all aspects of the Act are covered, including screening and training of staff, reporting and monitoring obligations, and a tailored risked-based analysis.  

    • Procedures for identifying and assessing customers in accordance with AML/CTF risks.

    • Procedures for reporting threshold and suspicious transactions identified.

    Are you simply relying on the 15-month prosecution free period? Did you know that this will only apply if you have taken ‘reasonable steps’ towards compliance?

    Please contact a member of our AML team to make enquiries.

    Harry New
    Partner
    harry.new@hallandwilcox.com.au    		 +61 3 9603 3559
       
    John Bassilios
    Lawyer
    john.bassilios@hallandwilcox.com.au    		 +61 3 9603 3580
       
    Yechiel Belfer
    Lawyer
    yechiel.belfer@hallandwilcox.com.au    		 +61 3 9603 3528

     

     
     
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    IMPORTANT: This is not advice. Readers should not act solely on the basis of the material contained in this newsletter. Items herein are general comments only and do not constitute or convey advice per se. Also changes in legislation may occur quickly. We therefore recommend that our formal advice be sought before acting in any of the areas covered in this newsletter.
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