ASIC has released updated policy guidance about its approach to facilitating cross-border financial regulation to assist foreign providers of financial facilities, services and products that wish to operate in Australia.

The updated guidance is covered in new versions of:

Regulatory Guide 54 Principles for cross-border financial regulation (RG 54)
Regulatory Guide 176 Foreign financial services providers (wholesale clients) (RG 176), and
Regulatory Guide 178 Foreign collective investment schemes (RG 178).

Class Order [CO 12/572] and Class Order [CO 12/573] implement the key changes to the RG 176 and RG 178 suite of class orders, respectively.

Information Sheet 157 Practical guidance for foreign financial service providers (INFO 157) has been developed to assist those wishing to apply for or rely on existing relief mechanisms under RG 176.