Omni Bridgeway Limited (ASX:OBL) has accepted the Federal government proposal to require all litigation funders that operates in Australia to hold an Australian Financial Services Licence as well as to conduct class actions meeting the requirements with the managed investment scheme (MIS) regime.
The reform is in line with OBL’s support for improved regulation of litigation funding in Australia.
Further, the company recommends reapplying for an Australian Financial Services Licence.
Disclaimer
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