Relief from the financial services provisions
For the latest releases on financial services topics including relief see What's new - financial services.
Applying for relief
When applying for relief from the financial services provisions, make sure you:
1. Apply early
If you’re thinking of applying for relief from the financial services licensing or disclosure provisions, you should apply as early as possible. Applications for relief often raise issues that may take some time to resolve.
2. Apply in writing and use form FS10
You should apply in writing. To help you apply for relief we have released form FS10, a combination form containing forms FS10 through to FS15. We encourage you to use it as a cover sheet to your written application addressing the criteria in RG 51.
While using the form is not compulsory, it will make it easier for you to identify the type of relief you are seeking, as well as making the assessment process more efficient.
The form includes information to help you complete and lodge it. It also sets out the fees that apply.
Download a copy of form FS10
3. Address the criteria in our policies on relief
You should specifically address the criteria set out in our policies on relief.
For example, in your application you should particularly address the commercial benefit and any net regulatory benefit or detriment from granting the relief you seek. If you think you have special circumstances or you are disproportionately affected by the FSR provisions, clearly set out your reasons.
4. Lodge your application electronically
The quickest way to have your application considered and our preferred method of lodgement is to email a copy of form FS10, the application and any attachments to email@example.com. Then send the paper copy and the fee to:
Manager – Applications
Alternatively send your written application, Form FS10 and cheque to us at the above address.
Australian Securities & Investments Commission
GPO Box 9827 in your capital city
Sample application for relief
View our example of the information typically required in an application for relief.
You can also read the accompanying information sheet.
Reports on relief applications
These reports provide an overview of situations where ASIC has exercised, or refused to exercise, our exemption and modification powers. This includes applications from financial service providers for relief from the licensing, conduct, disclosure and managed investments provisions of the Corporations Act 2001.
The reports also cover applications for relief from the financial reporting, takeovers, or fundraising provisions of the Corporations Act 2001,and provisions of the National Consumer Credit Protection Act 2009 or National Consumer Credit Protection (Transitional and Consequential Provisions) Act 2009.
View the relief reports
ASIC guidance on relief
You can download copies of our regulatory guides on relief from the financial services provisions:
Regulatory Guide 51
Applications for relief
Regulatory Guide 167
Licensing: Discretionary powers
Regulatory Guide 169
Disclosure: Discretionary powers
Regulatory Guide 21
How ASIC charges fees for relief applications
List of class order relief by topic
View our topic index of regulatory documents for financial services class order relief.
More information about Financial services
ASIC Website: Printed 08/30/2014