Your ongoing AFS licence obligations

As an AFS licensee, you have a general obligation to do all things necessary to ensure that you provide your financial services efficiently, honestly and fairly.

You have specific obligations relating to:

  • conduct and disclosure
  • the provision of your financial services
  • the competence, knowledge and skills of your responsible managers, as well as their good fame and character
  • the training and competence of your representatives and authorised representatives
  • ensuring your representatives (including authorised representatives) comply with the financial services laws
  • compliance, managing conflicts of interest and risk management
  • the adequacy of your financial, technological and human resources, and
  • your dispute resolution and compensation arrangements (if your clients include retail clients).

This is not an exhaustive list of your obligations. You must comply with the conditions of your licence as well as the Corporations Act 2001.

Depending on your circumstances, you may be eligible for class order relief or individual relief for some obligations.

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Last updated: 23/03/2016 03:04