Thank you for your question.
We have assisted a number of companies to obtain an AFSL for FX advisory to wholesale business.
The process for applying for an AFSL, and the requirements on licensees, are the same, whether you are a one man company or a larger firm with multiple employees. Maintaining your own AFSL costs a significant amount of time and money, as knowledge, resources and training are required to keep up-to-date with products, regulatory changes and compliance requirements.
ASIC’s Licensing Kit has information about the application process. For information regarding obligations that apply to licensees, we recommend that you have a look at Regulatory Guides 104, 105, 126 and 166.
ASIC is currently taking a cautious approach to applications for FX advisory licenses.
For further information about applying for an AFSL, please contact our licensing team.
