An Australian financial services licence (“AFS licence”) authorises the provision of financial services in Australia.
The legislative and regulatory requirements to obtain an AFS licence can be both complex and daunting. There are a number of requirements which must be satisfied to obtain an AFS licence, including organisational expertise, financial resources and compliance procedures; which can appear onerous, especially for start-up and small to medium sized enterprises. In addition, the requirements to obtain an AFS licence differ based on the nature, scale and complexities of the financial services business to be operated.
We have prepared and reviewed numerous AFS licence applications and supporting documents for a range of financial service businesses, such as responsible entities, wholesale fund operators, financial planners and stockbrokers.
MLC Legal offers a range of AFS licence related services, including:
- AFS licence applications and variations
- Preparation of AFS licence related documentation, including compliance procedures
- Assess the adequacy of existing AFS licences
- Assess and manage the acquisition of existing AFS licences
- Responsible manager appointments
- Authorised representative appointments
- Financial services guides ("FSGs")
- Statements of advice ("SOAs") and records of advice ("ROAs")
MLC Legal can also provide ongoing compliance support and external compliance reviews to assist clients manage and maintain their AFS licences.