Australian Financial Services Licence Applications
Are you looking for advice on an Australian Financial Services Licence?
I have helped business owners since 2000 to prepare applications for an Australian Financial Services Licence, to set up managed investment schemes and assisted in managing them.
Perhaps you are an investment manager at an institution or family office and want to set up and run your own managed investment scheme and develop a funds management business. I advise prospective fund managers on obtaining the right licence and setting up the scheme. I am a Chartered Accountant and a registered tax agent.
I can advise you on the types of licence available, and which type and authorisations you need to provide the financial service you have in mind.
What is an Australian Financial Services Licence?
The Australian Securities and Investments Commission, called the regulator on this page, grants these licences. They allow holders to provide certain authorised financial services to Australian residents.
Authorisations can include providing financial advice, issuing interests in managed investment schemes, dealing in financial products and providing custodial services.
Do I Need My Own Licence?
Not always. Depending on your plans, you can:
- Apply for your own Australian Financial Services Licence
- Become an authorised representative of an existing licence holder
- Use an existing responsible entity to operate your scheme
Each option differs in cost, control and responsibility. I can help you compare them.
What Does the Application Involve?
Since 16 June 2025, applications are made through the regulator’s online Regulatory Portal, which replaced the older eLicensing system. Applications to register a managed investment scheme, and notices that a product disclosure statement is in use, are still lodged through the separate licensee portal. The portal asks questions about your business, including the services you will provide, the clients you will serve, and your compliance, training, insurance and dispute resolution arrangements. You upload evidence for your responsible managers and other people who must be shown to be fit and proper. I can help you prepare all of this.
The application process can be daunting and time-consuming. If the regulator asks for more information, you must reply within the time allowed or the application can be treated as withdrawn, and the fee is not refunded.
I can manage the process on your behalf and check that your application is complete and accurate before it is lodged.
Obligations After You Are Licensed
- Report significant breaches to the regulator within 30 calendar days and report an investigation into a possible significant breach that continues for more than 30 days.
- Be a member of the Australian Financial Complaints Authority and keep internal complaints procedures.
- Hold compensation arrangements, usually professional indemnity insurance.
- Keep responsible managers who meet the competence requirements.
- Manage conflicts of interest and keep staff and representatives trained.
- Set a target market for retail products under the design and distribution obligations.
- Lodge financial statements and audit reports where required.
Frequently Asked Questions
It is a licence granted by the Australian Securities and Investments Commission that allows its holder to provide the financial services covered by its authorisations. Those authorisations can include financial advice, dealing in financial products, issuing interests in managed investment schemes and providing custodial services.
Not always. Depending on the services and structure you are planning, the options can include applying for your own licence, becoming an authorised representative of an existing licence holder, or using an existing responsible entity to operate a scheme. The options differ in control, responsibility and cost.
The Regulatory Portal asks about the proposed services, clients, responsible managers, compliance arrangements, training, insurance and dispute resolution. Evidence is also required for responsible managers and other people who must be shown to be fit and proper.