ASIC claims governance gaps in AFSLs offshoring arrangements
The corporate regulator has told licensees to strengthen governance over the use of offshore service providers after a review found weaknesses that could expose consumers to harm. The review also included data from large fund managers to capture the influx of offshore enquiries on behalf of Australian firms, with one fund getting 16,500 enquiries originating from 24 countries in a 12-month period.
Compliance