Document ID: chunk:federal_register_of_legislation:F2023C00827:reg:2:p2
Version: federal_register_of_legislation:F2023C00827
Segment Type: reg
Provision Reference: reg 2 (pt 2/10)
Character Range: 4488–7297

Schedule 1 to this instrument for a foreign financial services provider of that type.
overseas regulatory authority means a foreign regulatory authority which regulates financial services and which is established by or for the purposes of a foreign government or legislative body.
Regulations means the Corporations Regulations 2001.
regulatory requirements means the rules that apply in relation to financial services including any applicable legislation, instruments made under that legislation and any relevant policies, rules or other documents (however described) issued by an overseas regulatory authority.
US means the United States of America.
wholesale financial service means, in relation to a foreign financial services provider that holds an Australian financial services licence, a financial service:
(a) the provision of which is covered by the licence; and
(b) that is specified in column 4 of the table in clause 1 of Schedule 1 to this instrument for a foreign financial services provider of that type.
Note:  A financial service will only be a wholesale financial service if it is provided to a wholesale client: see column 4 of the table.

5 Meaning of US SEC regulated financial service provider
(1) For the purposes of this instrument, a US SEC regulated financial service provider is a foreign company to which the following apply:
(a)  the foreign company is:
 (i) a registered broker dealer that is a member of the Securities Investor Protection Corporation established under the Securities Investor Protection Act of 1970 of the US and that is a member of FINRA and FINRA is the foreign company's examining authority; or
 (ii)  a registered broker dealer that is an OTC derivatives dealer within the meaning of Rule 3b-12 promulgated under the Exchange Act who is affiliated within the meaning of that Rule with a registered broker dealer who is a member of FINRA; or
(iii)  a registered investment adviser;
(b)  the foreign company is:
(i)  a body corporate incorporated in the US or a State of the US; or
(ii)  a partnership formed in the US or a State of the US;
              Note: By subsection 761H(1) of the Act, the operation of this instrument in relation to partnerships is affected by section 761F and subsection 769B(4) of the Act.
 (c)  the foreign company carries on business in the US.
(2) In this section:
examining authority, in relation to a foreign company, means a self-regulatory organisation to which the foreign company belongs which has not been relieved of responsibility relating to the foreign company under section 17(d)(1)(A) of the Exchange Act in any respect.
Exchange Act means the Securities and Exchange Act of 1934 of the US.
FINRA means the Financial Industry Regulation Authority.
registered broker dealer means a broker or dealer registered under