You must have an Australian financial services (AFS) licence to conduct a financial services business.
If you carry on a business of providing financial services, you must hold an AFS licence (unless you are exempt or are authorised to provide those services as a representative of another person who holds an AFS licence).
You may need an AFS licence if, as part of your business, you:
- 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, or
- provide traditional trustee company services.
You will need to have your AFS licence or be a representative of a licensee from the day you start your financial services business. Depending on your business, you may decide to apply for a limited AFS licence.
ASIC assesses applications for AFS licences as part of our role as regulator of the financial services industry.
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 guarantee the probity or quality of the licensee’s services.
- AFS Licensing Kit
- Do you need a licence?: Check if you need an AFS licence or a limited AFS licence for your business
- Applying for and managing your AFS licence: How to apply for an AFS licence
- Changing details and lodging documents: Update your details and lodge forms
- Your ongoing obligations as AFS licensee: What you must do to comply with your obligations
- Varying or cancelling your AFS licence: If your circumstances change you may need to vary or cancel your licence
- More information about AFS licensing