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

[Dialupp]

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.

 

[Dialupp]

Bump. Surely someone knows this lol.

 

[Iamthelaw]

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

 

[Dialupp]

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

Finally a response about time lol. Thanks mate.

 

[Iamthelaw]

Finally a response about time lol. Thanks mate.

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