Support for Obtaining and Maintaining An Australian Financial Services License (AFSL)
Australian organisations providing financial services to consumers in Australia must apply for and obtain an Australian Financial Services License (AFSL) from the Australian Securities & Investments Commission (ASIC) and demonstrate that they have established and continue to maintain compliance with the financial services laws and regulations. Our team of specialists provide solutions to support and assist organisations fulfil their financial services obligations.
Why do you need our Financial Services Solutions?
Financial services are regulated by ASIC in Australia. This means that you must comply with financial services obligations under the Corporations Act 2001 (Cth), and ASIC Regulatory Guides applicable to financial services licensees. Our team has extensive experience in navigating the complex legal and regulatory landscape of the financial services regime and can help you comply your obligations as a financial services licensee.
Financial Services Law Solutions We Offer
Our team will navigate the legal and regulatory landscape applicable to your business and will provide advice tailored to your organisation. This includes:
- ASIC Licensing Application Support – Assistance with preparing, submitting, and securing approval for an Australian Financial Services License (AFSL) application with ASIC, and also financial services license variations.
- Compliance Assistance – Helping in developing and implementing risk and compliance systems to meet your obligations as a financial services licensee.
- Maintenance of Compliance – Ensuring ongoing compliance with financial services laws and ASIC’s Regulatory Guides applicable to financial services licensees, including drafting relevant policies and procedures and advising on business processes.
- Review and Audit – Assessing compliance systems to ensure they are effective and up to date with industry changes.
- Corporate Authorised Representative Agreements – Drafting or reviewing Corporate Authorised Representative Agreements (CAR).
- Financial Services Legal Advice – Advising on financial services obligations under the Corporations Act 2001 (Cth), Australian Securities & Investments Commission Act 2001 (Cth), applicable regulations and other relevant laws relevant to financial services providers.
- Consumer Disclosure Materials – Drafting or reviewing consumer disclosure materials such as financial services guides, Target Market Determinations (TMD), product disclosure statements, product terms & conditions and ancillary documents.
- Reportable Breach Assessment and Remediation – Investigating a breach and assessing whether it amounts to a reportable breach that must be reported to ASIC. This includes assisting with developing remediation strategies to prevent future breaches.
- Online Compliance Training – Developing and delivering compliance training online or in person to organisations to assist them with meting their organisational competence obligations to ensure staff receive the appropriate training to perform their roles.
- Risk Management – Advising on and providing guidance for risk management to assist financial services licensees in understanding risk management obligations, and with developing and implementing adequate risk management systems which comply with relevant financial services laws and regulations.
- Outsource Provider of Licensed Functions – We can be an extension of your team to supplement critical business and mandatory licensed functions for Australian Financial Services License (AFSL) compliance.
- Regulatory Advice and Guidance – Advising on and providing guidance on financial services regulations including, ASIC Regulatory Guides and Information Sheets, and other applicable regulatory laws and regulation.
- Responsible Manager Services – We can provide responsible manager services or guidance to existing responsible managers with respect of their obligations.
