FACT SHEET: Key AFSL Requirements

How do I get an AFSL, you ask? Below, we outline the key requirements required for applying for and obtaining an AFSL. If you decide to obtain an AFSL, it is critical that you understand the key obligations imposed on the licensee.

The key obligations are detailed in section 912A of the Corporations Act and also discussed in ASIC Regulatory Guide 104 ( Licensing: Meeting the general obligations). They require that you as licensee:

• Do all things necessary to ensure that the financial services covered by your licence are provided efficiently, honestly and fairly;
• Have adequate arrangements in place for managing conflicts of interest;
• Comply with the conditions on your licence;