![Data_protection_privacy_AdobeStock_472181971](https://www.nortonrosefulbright.com/-/media/images/nrf/hero/data_protection_privacy_adobestock_472181971.jpg?w=265&revision=a0110a2e-0d9d-472b-8464-2628f213a832&revision=5250235652287387904&hash=DE6623DBC8696761B858384DA9FEC47C)
Publication
FAR intersection points: Privacy laws, data protection and foreign bribery
As of 15 March 2024, the Financial Accountability Regime (the FAR) applies to Authorised Deposit-taking Institutions (ADI).
On 10 February 2022, the Senate passed the long-awaited Corporate Collective Investment Vehicle (CCIV) legislation with bi-partisan support. As a result, the new funds framework is now expected to commence from 1 July 2022. This marks a significant milestone in the development of Australia’s funds management industry, broadening out the range of investment structures. The CCIV offers a corporate funds structure which is more familiar to overseas investors and combines flow-through tax treatment.
With the imminent launch of CCIVs, and consistent with what we have witnessed from other jurisdictions implementing similar fund regimes, we expect that superannuation/pension funds, global investment managers, investors and a range of other financial and fundraising institutions will be assessing how they may take advantage of the opportunities presented by the introduction of CCIVs in Australia.
For a more detailed summary, see our previous CCIV update here.
A copy of the legislation is available from the Australian Federal Parliament's Website.
Publication
As of 15 March 2024, the Financial Accountability Regime (the FAR) applies to Authorised Deposit-taking Institutions (ADI).
Subscribe and stay up to date with the latest legal news, information and events . . .
© Norton Rose Fulbright LLP 2023