ASIC today released Version 2 of its eLicensing system and the Australian Financial Services Licensing Kit, as part of ASIC’s ongoing implementation of the Financial Services Reform Act.

Financial Services Regulation Executive Director Ian Johnston said the eLicensing system and the AFS licensing kit are “essential tools for anyone preparing to apply for an AFS licence”.

“The updated kit incorporates the feedback we’ve received from industry, and reflects our operational experience to date”, he said. “If you have already applied for an AFS licence using Version 1, or you’re currently drafting an application in that version, you don’t need to re-apply using Version 2. The updated version is for new applicants only.”

Mr Johnston said industry participants need to read both parts of the kit before applying online. Part 1 outlines the process involved and is also available as a brochure, while Part 2 helps applicants to answer particular questions in the application.

The application and licensing kit are available via the Licensing page on the ASIC website at www.asic.gov.au.