• Andrea Beatty

ASIC provides a helping hand for licence applicants

On 16 December 2019, ASIC released Report 650: Overview of licensing and professional registration application: July 2018 to June 2019 (REP 650). The report is intended to increase transparency and provide clarity and guidance to prospective applicants.

REP 650 outlines ASIC’s assessment and decisions on applications from 1 July 2018 to 30 June 2019 for:

· new AFS licensees and licence variations;

· new Australian credit licences and licence variations;

· the registration of liquidators, company auditors and approved SMSF auditors; and

· financial markets licences, CS facilities licences and derivative trade repositories licences.

Through providing such information, ASIC imparts greater guidance on how applicants may be able to navigate the application process for new licences, licence variations and professional registration.

Reports such as REP 650 are published annually to provide greater clarity concerning ASIC’s regulatory actions and in-depth information regarding their licensing and registration assessments.

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