During the briefing, John Moutsopoulos and Grant Mackinlay of KPMG Australia delivered a presentation and discussion on recent changes to Australia’s regulatory framework for foreign fund managers that wish to raise capital from Australian investors; specifically:

• Update on ASIC s recent repeal of licensing exemptions for foreign fund managers who have clients in Australia or wish to raise capital in Australia;
• legal and tax implications for ANREV members with an existing book of clients in Australia including transitional arrangements;
• legal and tax implications of key options for ANREV members going forward to raise capital in Australia including reliance on other licensing relief, applying for a foreign licence, or setting up a local office and applying for a standard license.