AFSL Application process
Applying for an Australian Financial Services Licence (AFSL) isn’t as simple as you may think. There is a lot of preparation and paperwork involved; and getting it right the first time will save you a lot of time, money and headache with ASIC in the long run. If you don’t have the time or resources to apply for an AFSL, why not let us do the hard work for you.
How we can help you apply for an AFSL
ASIC’s Regulatory Guides set out detailed and often complex requirements for AFSL applicants. Navigating these requirements is rarely straightforward, particularly where business models, authorisations or Responsible Manager structures are nuanced.
Our lawyers provide strategic legal support throughout the AFSL application process, from initial structuring through to lodgement and regulator engagement. We can assist you with:
- Determining the appropriate authorisations for your AFSL and structuring your licence to align with your business model
- Assessing and advising on Responsible Managers against ASIC’s RG 105 requirements
- Preparing and managing the e-licensing application process
- Advising on and assisting with the preparation of responses to ASIC questions (including on topics including organisational competence, compliance arrangements and risk management frameworks)
- Providing clear, practical guidance on materials to be prepared internally
- Reviewing applications prior to submission, including identifying gaps or risk areas
- Managing engagement with ASIC throughout the assessment process, particularly where applications are complex or require further clarification
The different types of AFSLs we’ve helped our clients obtain:
- Financial Planning licence
- Foreign exchange licence
- CFDs licence
- Managed Funds licence
- Limited licence (for accountants)
- APRA licence (ADIs/banking licence)
- Stock brokers licence
- … and more
AFSL Application / Variation Packages
While we would love to provide a standard pricing for AFSL applications and variations, we’ve realised after preparing hundreds of applications over the years that standard pricing doesn’t work and it’s not a ‘one size fits all’. Instead, our licensing team provides a tailored quote after speaking with you about your business plans. Some of the factors that we consider when preparing our tailored quote include:
- The authorisations being sought
- The number (and experience) of responsible managers you nominate
- The amount of support you are seeking to complete the application and supporting proof documents
- Whether you need access to a Compliance Manual
