Your Essential Guide for Australian Financial Services Licence Holders (AFSL)

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Download this comprehensive, free checklist designed to help Australian Financial Services Licence (AFSL) holders meet their regulatory obligations under the Corporations Act 2001 (Cth), ASIC Regulatory Guides, and other relevant financial services laws. This guide is a vital tool for ensuring your business activities, financial compliance, and client protections are up to date and legally sound.

This essential resource is organized into key sections, detailing specific rules, responsibilities, and frequencies for each compliance task.

The checklist covers:

• General Licensing Obligations: Ensuring your business activities remain within your AFSL scope and that you maintain accurate records of regulatory interactions.
• Governance & Conduct Management: Verifying that key decision-makers meet ASIC's "fit and proper" criteria and establishing policies for breach reporting and managing conflicts of interest.
• Financial & Capital Requirements: Meeting net tangible assets (NTA) and cash buffer requirements, lodging required financial reports with ASIC, and conducting external financial audits.
• Client Protection & Conduct Obligations: Implementing rules like Anti-Hawking, the Best Interests Duty, and an effective complaint handling process.
• Whistleblower Protections & Cybersecurity: Establishing a compliant whistleblower policy, implementing IT security measures, and maintaining a Business Continuity Plan (BCP).
• Insurance & Adviser Registration: Maintaining Professional Indemnity insurance and ensuring all financial advisers and authorized representatives are registered with ASIC.
• Disclosure Requirements: Providing Financial Services Guides (FSGs) and Product Disclosure Statements (PDSs) to new clients.
• Service Provider Oversight: Conducting due diligence and maintaining written agreements for all external service providers.
• AML/CTF Compliance (If Applicable): Maintaining a compliant Anti-Money Laundering/Counter-Terrorism Financing (AML/CTF) program and reporting suspicious transactions to AUSTRAC.

This is a valuable tool to help you conduct quarterly compliance reviews, address any gaps, and ensure senior management is updated on regulatory changes.

If you need tailored legal advice or assistance with your AFSL compliance, contact our experienced AFSL lawyers today.

Book a free 30-minute consultation to ensure your business stays compliant, protected, and legally sound.

Contact Us Email: hello@clicklegal.com.au

Phone: +61 (0) 450 502 672