Wikipedia;
An Australian Financial Services Licence (AFSL) is a licence that an Australian business involved in the provision of financial services is required to hold. An AFSL is required for a business that includes:
AFSLs are issued by the Australian Securities and Investments Commission (ASIC) as required under section 911A of the Corporations Act 2001,[1][2] as part of its role as regulator of the financial services industry.
- providing financial product advice to clients
- dealing in a financial product
- makes a market for a financial product
- operates a registered scheme
- providing a custodial or depository service, or
- providing traditional trustee company services.
An AFSL can be issued to an individual, to a director or employee of an AFSL holder, or an authorised representative of a person who holds an AFSL.[3] Some wholesale Charitable Investment Fundraisers can be exempt from licensing requirements.
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