Australian financial services licence (AFSL) (Australia)
The Australian financial services licence (AFSL) is issued by Australian Securities and Investments Commission (ASIC) under the Corporations Act 2001. It covers reception and transmission of orders, execution of orders on behalf of clients and dealing on own account. It is valid in Australia only; each other market needs its own authorisation. Ownership changes need the regulator's approval before completion.
At a glance
| Official name | Australian financial services licence (AFSL)1 |
|---|---|
| Issued by | Australian Securities and Investments Commission |
| Jurisdiction | Australia |
| Licence family | Investment firm / broker-dealer |
| Legal basis | Corporations Act 20012 Australian Securities and Investments Commission Act 20013 |
| Passporting | Domestic only |
What it lets you do
- Reception and transmission of orders
- Execution of orders on behalf of clients
- Dealing on own account
- Portfolio management
- Investment advice
- Reception and transmission of orders. Receiving client orders in financial instruments and passing them to another firm for execution.
- Execution of orders on behalf of clients. Concluding agreements to buy or sell financial instruments on behalf of clients.
- Dealing on own account. Trading financial instruments against proprietary capital, which includes acting as counterparty to client trades.
- Portfolio management. Managing client portfolios that include financial instruments on a discretionary, client-by-client basis.
- Investment advice. Giving personal recommendations to a client about one or more transactions in financial instruments.
Where it is valid
How long it takes
Statutory: not set in law. Observed: No fixed statutory decision deadline; ASIC's own service charter reports it decided 77% of new AFS licence applications, and 76% of AFS licence variation applications, within 150 days in FY2024-25 (1 July 2024 - 30 June 2025).4. The statutory clock usually starts only when the regulator treats the application as complete, and pauses while it waits for answers to its questions.
Buying a company that already holds it
Notification only. Change of control is triggered when a person gains or ceases capacity to cast, or control the casting of, more than 50% of votes at a general meeting, or holds more than half the issued share capital, of an AFS licensee (Corporations Act s.910B). The licensee must notify ASIC of the change, via the Regulatory Portal, no later than 30 business days after the change occurs (s.912DA).5
Ready-made companies holding this licence: see verified positions.
Laws behind it
- Corporations Act 2001: Act No. 50, 2001 (Cth), registered compilation C2026C00382
Sources
- asic.gov.au: afs licensees · retrieved 2026-09-24
- legislation.gov.au: text · retrieved 2026-09-24
- legislation.gov.au: text · retrieved 2026-09-24
- asic.gov.au: asic updates on key licensing and professional registration · retrieved 2026-09-24
- asic.gov.au: change in control of afs licensee · retrieved 2026-09-24
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