Australian Financial Services Licensing (AFSL) Forum

Home Forums Australian Financial Services Licensing (AFSL) Forum Private Forex PAMM Acccount

This topic contains 2 replies, has 3 voices, and was last updated by  Archived User 8 years, 3 months ago.

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  • #2951 Reply

    What are the Licensing requirements , if any, for a PAMM account that is for family and friends only, restricted to 20 member and not advertised?

    #3132 Reply

    A PAMM account is likely to require a financial services licence with either a managed discretionary account service (MDA) or managed investment scheme (MIS) authorisation.  Some managed funds that operate as MDAs or MIS’ may qualify for an exemption from licensing under the Corporations Act 2001 and accompanying regulations.  Each exemption has detailed requirements and requires the PAMM account operator to stay within strict parameters.  You would need to look at these exemptions in detail and/or seek legal advice to determine whether the fund you intend to operate meets these exemptions.  This would help determine your licencing requirements.

     

    Feel free to contact our office if you would like further information.

    Author: David Court  

    Co-contributor: Chris Wallace
    #3133 Reply

    Hi Moidart,

    If you are looking for an AFSL holder or at becoming an Authorised Representative to run a PAMM, I can help you with this. You can contact me at contact@licencefx.com.au

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Reply To: Private Forex PAMM Acccount

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