Australian Financial Services Licensing (AFSL) Forum

Home Forums Australian Financial Services Licensing (AFSL) Forum ASIC INFO216 – Combined Licensed & Non-Licensed activities for Accountant ARs Reply To: ASIC INFO216 – Combined Licensed & Non-Licensed activities for Accountant ARs

#4986 Reply

Andrew Ham
Member

Hello,

 

Thank you for your question.

 

We cannot give you specific legal advice without more information about your circumstances.  However you are correct, as a general principle, in saying that if you are covered by an AFS licence, any financial product advice provided (whether by the AFS licensee or its representatives) in regards to the establishment, operation, structuring and valuation of the fund, will need to be covered by authorisations on the licence.

 

As a Corporate Authorised Representative, your company and its duly sub-authorised directors and employees will be deemed to be representatives of the licensee, with authority to advise and deal in the financial products and services as set out in the licence, subject to any limitations imposed by the licensee.  You therefore need to ensure that your licence has all the authorisations you require to operate your business.

 

Please feel free to contact our Financial Services Team if you would like to obtain more specific legal advice on your particular situation.

 

Authors: Andrew Ham (Senior Lawyer) and Greta Walters (Legal Clerk)

 

 

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