What is the application fee for ASIC license in Australia?

Australian Securities Investment Committee: ASIC for short.

According to ASIC Act, any financial institution engaged in financial transactions in Australia must pass ASIC certification and apply for AFS license, and the foreign exchange market is no exception. At present, Australia's financial institutions engaged in the foreign exchange market are: banks, foreign exchange dealers, brokers, foreign exchange information providers and so on.

The formal platform must have a number (AFSL: Australian financial business license number), and only with this number can it be qualified to be a financial derivative. Only one company (ABN: Australian business registration code, ACN: Australian company code) is not qualified to be a financial derivative. Those with AFSL numbers will have corresponding ABN and ACN codes; But those who only have ABN and ACN codes do not necessarily have AFSL numbers.

Australian ASIC regulatory measures

1, a wide range of pension, insurance, deposit and loan industries.

2. Local banks and financial institutions and branches of international banks doing business in Australia.

3. Financial trading institutions such as securities, futures, foreign exchange and financial derivatives.

4. All institutions involved in financial product information consultation and service.

5. All employees in the financial industry must hold relevant certificates and engage in financial business according to regulations.

1) All institutions dealing in financial products need to apply for AFS license first.

2) All institutions applying for AFSL financial service license must apply for professional liability insurance for retail customers.

3)ASIC requires the complaint department to handle customer complaints in a timely manner, and severely punish those who violate the rules, or even revoke the AFSL financial service license.

4) More stringent risk disclosure of financial products and customers requires financial institutions to inform customers of the company's operating risks and market transaction risks without reservation.

Detailed process of license application:

1. Recruit company employees

2. The responsible manager is the licensee.

3. The company's serviced office building management

4. Australia's top legal consulting companies provide AFSL license legal services.

Agency financial license service content

1. Financial business scheme design

2. Submit the license application and prepare relevant documents.

3. Prepare and write a financial service guide.

4. Writing of financial transaction product disclosure instructions

5. Employment contract writing

6. Counter-terrorism report application for backwashing

It takes 6- 10 months to register a new Australian ASIC license.

The Australian Securities and Investment Commission (ASIC) published the evaluation report of license and professional registration application from July 20 17 to June 20 18. During this year, ASIC approved nearly half of 2879 license applications. These license applications include Australian Financial Services (AFS) license, credit license (ACL) or professional registration. In Australia, brokers, exchanges and financial companies all need AFS licenses to operate legally. As for the length of time to obtain a license, it depends on the complexity of the enterprise structure.