ASIC encourages international firms to review their AFS licensing arrangements ahead of Brexit

“Of these firms, 285 UK foreign financial services providers (FFSPs) operate in Australia under an Australian financial services (AFS) licensing exemption” reports The Australian Securities & Investments Commission (ASIC) has earlier today posted an update on preparations for Brexit, encouraging firms with global operations to review their AFS licensing arrangements.Among other things, ASIC is seeking to enhance its co-operation with UK financial regulators post-Brexit. Source:

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GBP News 

Can the Alternative Arrangements Working Group bail Theresa May out over Brexit? All your questions answered

“After MPs told Theresa May to secure a better deal with Brussels by finding “alternative arrangements” to the backstop, Conservative Remainers and Brexiteers have been invited to work out what those changes need to be” writes Freddie Jordan for Will they¬†be able to bail out the Prime Minister?.  Source:

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Markets News 

Grab defends position in Uber deal to Singapore’s anti-monopoly watchdog

“Grab was the dominant player in Singapore’s ride-hailing market even before the Uber merger” writes Midwest Communications Inc for Several new players, such as India’s Jugnoo and Singapore-based Ryde, have recently entered the city-state’s ride-hailing market.The CCCS’s decision could have wider implications, with Malaysia also saying this month that it was studying monopoly risks triggered by the merger of Grab and Uber. Source:

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