Anti-Money Laundering and Counter-Terrorism Financing

Viewing 3 posts - 1 through 3 (of 3 total)
  • Author
  • #5331 Reply


    I am looking to start up an unregistered managed investment fund purchasing stocks on the ASX. It’s only for my friends and family and will be spread only by word of mouth. It will have about 7 people in it including myself and each will contribute 550k. I will manage the day to day running of the fund. My question is would I need an AFSL?

    #5332 Reply

    David Court

    An AFSL is needed whenever a person provides a financial service, which includes issuing a financial product. An MIS is a financial product unless it has less than 20 members and it is not promoted by a person (or an associate of a person) who is in the business of promoting managed investment schemes. .


    The promoter issue is a difficult one and will depend on who promotes the scheme, who their associates are, and what business activities they engage in.


    Please feel free to contact our financial services team if you would like further assistance.


    Author: David Court  (Partner)

    Co-contributor: Hugo Sasse (Law Clerk)

    #6693 Reply


    <span style=”color: #1155cc; font-family: Arial; font-size: 13px; white-space: pre-wrap; text-decoration-line: underline;”></span&gt;

Viewing 3 posts - 1 through 3 (of 3 total)


Reply To: Do I need an afsl

Your information:

<a href="" title="" rel="" target=""> <blockquote cite=""> <code> <pre class=""> <em> <strong> <del datetime="" cite=""> <ins datetime="" cite=""> <ul> <ol start=""> <li> <img src="" border="" alt="" height="" width="">

  • Free answers to common Financial Services Regulation (FSR), Consumer Credit and AML/CTF issues.

    Click here to join our LinkedIn group for responsible managers and compliance professionals.
  • Training

    Regulatory Compliance Training for Directors, Responsible Managers and Compliance Staff

    View Courses

  • Legal Advice

    Review your AFSL or ACL disclosure documents, conduct a licensee audit and more…

    Get Legal Advice

  • Compliance support

    The HN Hub – an online platform built to support Responsible Managers and Compliance Staff