Australian Financial Services Licensing (AFSL) Forum

#5070 Reply
Grant Holley
Grant Holley
Member

Thanks for your question.

An Authorised Representative carries on business as a representative of an AFSL holder.  Although many financial services can be provided in a representative capacity, this is not the case if you are issuing a financial product, such as your own Managed Investment Scheme.  In that case you will be acting as a principal and not as a representative.  There are some limited exceptions to this and you should seek legal advice.  Also, because the Scheme is to be marketed to retail clients, it will need to be a registered scheme, with a responsible entity that is a public company.

Please feel free to contact our Financial Services Team for further information.

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