Australian Financial Service Providers:

If you conduct a Financial Services Business then it may be the case that you are required to hold an Australian Financial Services License and may be bound to the codes of conduct which attach to the AFS License. You may require an AFS License if, as part of your business, you:

• Provide financial product advice to clients;
• Deal in a financial product;
• Make a market for a financial product;
• Operate a registered scheme;
• Provide a custodial or depository service; or
• Provide traditional trustee company services.

 It may be the case that you will be bound to the terms of section 911A or B of the Corporations Act 2001 as well as any conditions which may attach to the License itself. Generally these terms may include obligations in relation to:

• Conduct and disclosure;
• The provision of your financial services;
• The competence, knowledge and skills of your responsible managers, as well as their good fame and character;
• The training and competence of your representatives and authorised representatives;
• Ensuring your representatives (including authorised representatives) comply with the financial services laws;
• Compliance, managing conflicts of interest and risk management;
• The adequacy of your financial, technological and human resources; and
• Your dispute resolution and compensation arrangements (if your clients include retail clients).

If you are unsure of your obligations in relation to AFS Compliance, or if you have had contact with ASX or ASIC in relation to alleged breaches of the code, we recommend that you contact our firm on (02) 9233 4048 or send an email to info@navado.com.au and arrange an appointment to see one of our Compliance & Regulatory Law Solicitors. 

This webpage (and any material or wording appearing on this webpage) is provided for general information purposes only and does not constitute any Legal Advice. It does not take into account your objectives, your instructions or all of the relevant facts and/or circumstances. Navado accepts no responsibility to any person who relies on the information provided on this website. We further refer you to our Disclaimer.