AFS licensing

What is an AFS licence?
Applying for your AFS licence
Varying licence authorisations and conditions
Appointing/varying/revoking authorised representatives
Lodging annual accounts and audit reports
More information about licensing

Also see: Applying for a limited AFS licence
Cancelling your AFS licence and getting your security bond back
Credit rating agencies: Guidance on certain AFS licence conditions
Dealing and providing a custodial or depository service as a secondary service
How do the RSE and AFS licensing application processes work together?

Update details: licensees , authorised reps

Fees for lodging documents and how to pay them
Regulatory guides on licensing

What is an AFS licence?

An Australian financial services (AFS) licence authorises licensees to:

provide financial product advice to clients;
deal in a financial product;
make a market for a financial product;
operate a registered scheme;
provide a custodial or depository service;
provide traditional trustee company services.

An AFS licence is required to conduct a financial services business.

ASIC assesses applications for AFS licences as part of our role as regulator of the financial services industry. When we assess a licence application we consider whether the applicant:

is competent to carry on the kind of financial services business specified in the application;
has sufficient financial resources to carry on the proposed business — unless regulated by the Australian Prudential Regulation Authority (APRA); and
can meet the other obligations of an AFS licensee.

Consumers should be aware that the licensing process is a point-in-time assessment of the licensee, not of its owners or employees. Holding an AFS licence does not provide a guarantee of the probity or quality of the licensee's services.

ASIC must grant a licence if a business shows it can meet basic standards such as training, compliance, insurance and dispute resolution. The business is responsible for maintaining these standards.

A licence does not mean that ASIC endorses the company, financial product or advice or that investors cannot incur a loss from dealing with it.

A licensee must not use the ASIC logo or otherwise state or imply that ASIC endorses the licensee or its products and services.

Applying for your AFS licence

Apply for an AFS licence

Resume applying for a licence (opens new window)

Review the progress of your application (opens new window)

Service availability

Varying licence authorisations and conditions

Licensees
After your licence has been issued, you can use our Licensees portal to vary licence authorisations and conditions or make changes to nominated responsible officers.

More about varying your licence

Appointing, varying or revoking authorised representatives

Licensees
After your licence has been issued, you can use our Licensees portal to appoint/vary/revoke authorised representatives.

Authorised representatives
After you have been authorised, you can use our authorised representatives portal to appoint/vary/revoke authorised representatives.

More about appointing, varying or revoking authorised representatives

Lodging annual accounts and audit reports

AFS licensees
Lodging your annual accounts and audit report using forms FS70 and FS71

Foreign companies
Lodging your annual accounts as a foreign company using form 405

More information about licensing

Still need help? Contact your industry association or ASIC

Regulatory guides on licensing

Financial Services homepage

ASIC Website: Printed 06/20/2013

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