afsl

Australian Financial Services Licence (AFSL) is a licence normally required to be held by an Australian business involved in the provision of financial services. An AFSL can be issued to an individual, to a director or employee of an AFSL holder, or an authorised representative of a person who holds an AFSL.AFSLs are issued by the Australian Securities and Investments Commission (ASIC) under Chapter 7 (section 911A) of the Corporations Act 2001, as part of its role as regulator of the financial services industry.
Some wholesale charitable investment fundraisers are exempt from the AFSL licensing requirements. By an instrument in 2002, ASIC granted CIFs certain AFSL exemptions, including exemption from the requirement to hold an AFSL, if the only financial products issued were debentures or managed investment schemes.

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