ASIC is piloting a new digital portal for licensing, which includes the ability to apply for, maintain, and vary AFS licences.
The regulator says the new AFS licence portal simplifies and streamlines the digital application experience.
“It provides a user-friendly and streamlined experience by pre-filling information already known to ASIC, and only presenting questions relevant to each applicant’s application.”
ASIC adds the pilot, involving a limited number of new AFSL applications, commenced on 12 August 2024.
During the pilot phase, all other AFS licence applicants will continue using the existing eBusiness licensee portal to apply for, maintain, and vary their licence.
Going Live Scheduled for First Quarter of 2025
It is using the pilot “…as an opportunity to take on board any feedback to make continuous improvements to the AFSL application process and transaction flows before we go live for all AFS licence applications, scheduled for the first quarter of 2025.”
ASIC says this AFS licence project is a part of the wider digital transformation it’s making towards becoming a more efficient and data-informed regulator.
“ASIC’s objective is to provide a single digital front door, which offers a convenient and intuitive entry point for all stakeholders, including regulated entities and consumers in their digital interactions with ASIC,” it states.
