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NSW Not a Financial Advisor - Is Releasing Financial-Based App Illegal?

Discussion in 'Commercial Law Forum' started by Dialupp, 3 October 2016.

  1. Dialupp

    Dialupp Active Member

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    Hey guys,

    So I obviously don't want to get in trouble with the law, lol. I want to make sure I know what I'm doing.

    I am a programmer looking to release an app on the app store in maybe a year's time. It is a financially based app. Basically it will make recommendations on certain things like maybe which stocks to buy and why.

    Is this illegal since I am not a qualified financial advisor under Commercial Law?

    Thanks.
     
  2. Dialupp

    Dialupp Active Member

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    Bump. Surely someone knows this lol.
     
  3. Iamthelaw

    Iamthelaw Well-Known Member

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    You'll need an AFSL (Australian Financial Services Licence).
     
  4. Dialupp

    Dialupp Active Member

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    Finally a response about time lol. Thanks mate.
     
  5. Iamthelaw

    Iamthelaw Well-Known Member

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    You're welcome. Haha, I only noticed this now.
     

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