Australian Financial Services Licence
Encyclopedia
An Australian Financial Services Licence (AFSL) is a license for any Australian businesses involved in the provision of financial services
. It is issued by the Australian Securities and Investments Commission
as required by the Corporations Act 2001
.
A Responsible entity
is required to hold an Australian Financial Services Licence.
Financial services
Financial services refer to services provided by the finance industry. The finance industry encompasses a broad range of organizations that deal with the management of money. Among these organizations are credit unions, banks, credit card companies, insurance companies, consumer finance companies,...
. It is issued by the Australian Securities and Investments Commission
Australian Securities and Investments Commission
The Australian Securities & Investments Commission is an independent Australian government body that acts as Australia's corporate regulator...
as required by the Corporations Act 2001
Corporations Act 2001
The Corporations Act 2001 , sometimes referred to just as the Corporations Act , is an act of the Commonwealth of Australia that sets out the laws dealing with business entities in Australia at federal and interstate level...
.
A Responsible entity
Responsible entity
A responsible entity is a peculiarly Australian invention designed to replace the manager/trustee in managed investment schemes. It was created by the , which made significant amendments to the prescribed interest provisions contained in the Australian Corporations Act.The new arrangements replaced...
is required to hold an Australian Financial Services Licence.
External links
- AFS Licensing, ASICASICASIC may refer to:* Application-specific integrated circuit, an integrated circuit developed for a particular use, as opposed to a customised general-purpose device.* ASIC programming language, a dialect of BASIC...
- CORPORATIONS ACT 2001 - SECT 911A: Need for an Australian financial services licence
- Check that the business or person is licensed, ASIC