The Australian Securities and Investments Commission (ASIC) has released its eLicensing system as part of the implementation of the Financial Services Reform (FSR) Act.
ASIC deputy chair Jillian Segal says: “eLicensing is a fast and efficient method for the industry to apply for an AFS licence.
“It will reduce errors by crosschecking information with other ASIC databases, it will speed up processing times by eliminating the need to re-enter information, and using it will result in a substantially reduced application fee for applicants.”
The eLicensing system interactively tailors each AFS licence application so that applicants are asked only the questions relevant to them.
