Australia - AFSL
To conduct a financial services business, the company/orgainzation must have an Australian Financial Services Licence.
The financial services business including:
- Providing financial product advice to clients
- Dealing in a financial product
- Making a market for a financial product
- Operating a registered scheme
- Providing a custodial or depository service, or
- Providing traditional trustee company services.
Depending on your business, your company can apply for a limited AFS licence.
You have to provide the correct and complete information in the application to prove that you are competent to carry on the kind of financial services business specified in the application, have sufficient financial resources to carry on the proposed business and can meet the other obligations of an AFS licensee (such as training, compliance, insurance and dispute resolution).