Relief from financial services provisions

Latest releases

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 applications@asic.gov.au. Then send the paper copy and the fee to:

Manager – Applications
Australian Securities & Investments Commission
GPO Box 9827 in your capital city

Alternatively send your written application, Form FS10 and cheque to us at the above address.

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 regulatory index for financial services class order relief.

More information

More information about Financial services

What's new

ASIC digital disclosure project to boost investor understanding

We have announced a joint industry project to develop innovative, digital financial product disclosure that aims to boost investors' understanding of financial products. 14-317MR. 28 Nov

More financial services releases

Video

Pk Breach Reporting

ASIC Deputy Chairman Peter Kell talks about breach reporting.

Watch the video

Transcript to come.

Last updated: 21/10/2014 04:02