ob体育 has released Information Sheet聽240 AFS licensing 鈥� Requirements for certain applicants to provide further information (INFO 240) to provide guidance to applicants on recent changes to ob体育鈥檚 Australian financial services (AFS) licensing assessment procedures. These changes apply to:
- applicants that are a body corporate;
- applicants that are Australian Prudential Regulation Authority-regulated bodies; and
- applicants that are proposing to offer certain financial services or to operate in specific circumstances,
and are required to provide additional information to ob体育.
This will enable ob体育 to ascertain whether it has reason to believe an applicant is likely to contravene its legislative obligations, including to deliver financial services 鈥榚fficiently, honestly and fairly鈥� and to ensure that the responsible officers of a body corporate applicant are of good fame or character.
ob体育 Executive Director - Assessment & Intelligence Warren Day said, 鈥榦b体育 has reviewed the AFS licence assessment processes and has streamlined its assessment processes in some limited respects. This is designed to avoid unnecessary delays that may arise when ob体育 seeks additional information during an assessment.鈥�
Background
ob体育 is currently developing a new regulatory portal that will include a new AFS licence application platform. Until this is implemented, ob体育 continues to use our existing AFS licence platform.
滨狈贵翱听240 provides guidance on the additional information ob体育 now requires that is above and beyond what is requested in the existing AFS licence application forms.
The AFS Licensing Kit (Regulatory Guides 1, 2 and 3) remain relevant to all AFS licence applicants and applicants should have regard to this in conjunction with INFO 240.
Editor's note:
INFO 240 was updated on聽26 September 2019 to clarify the information
requested from applicants.