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Thanks for your question.
Whether your business will need an AFSL is not always a simple question. ASIC provides some guidance on their website. The question is not whether you are offering services to Australian clients but whether you are operating a financial services business in Australia, which is a broader test.
Generally, offering a PAMM service to people in Australia (or, if the company is based in Australia, to people overseas) would require an AFSL, which includes a managed discretionary account authorisation (see RG179).
Often it is the company that holds the licence. The employees are therefore not required to hold an AFSL, but are still required to meet certain training and supervision requirements.
If you do need an AFSL, there are several ways that it can be structured. To answer both questions completely for your business, you will have to obtain expert legal advice. Please contact our financial services team if you wish to discuss further.
Author: Paul Derham
Co-contributor: Megan Jaksa