Litigation funders to be regulated under the Corporations Act
On 22 May 2020, the Government announced that it would regulate litigation funders under the Corporations Act. The regulations to implement this commenced on 24 July 2020.
From 22 August 2020, operators of litigation funding schemes will generally need to hold an AFS licence and each litigation funding scheme will need to be registered.
For more information, visit ASIC’s litigation funding information page.