Australian Financial Services Licensing (AFSL) Forum

Home Forums Australian Financial Services Licensing (AFSL) Forum Seeking AFSL holder to become AR: establishing funds and IPO related services

This topic contains 1 reply, has 2 voices, and was last updated by Paul Derham Paul Derham 6 years, 2 months ago.

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  • #4296 Reply

    moreak
    Member

    Does anyone have the AFSL that is authorized to setup funds (property fund investing domestically and fixed income fund investing overseas)? We would like to negotiate and borrow the license. Many thanks!

    #4297 Reply
    Paul Derham
    Paul Derham
    Member

    Hi Moreak,

     

    Thanks for your question.

     

    There are three ways to provide activities that require licensing in Australia and this does not include borrowing another business’s licence.

     

    The three options include:

    1. Applying for an AFSL;
    2. Becoming an Authorised Representative (“AR”) under an existing AFSL; or
    3. Buying an existing business (e.g. company) that holds an AFSL.

     

    If you consider becoming an AR under an existing licence, you should be mindful that the AFS licensee can be very stringent with its due diligence process and ongoing monitoring procedures.

     

    Licensees that “rent” or “lend” their licences to other parties may be scrutinised by ASIC because “borrowing” a licence is not within the intention of the law.

     

    We can assist you with any of the above options.  Please contact our financial services team for further information.

     

    Author: Paul Derham

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Reply To: Seeking AFSL holder to become AR: establishing funds and IPO related services

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