Question from FIF Member Regarding Australian Financial Services (AFS) License
A FIF Member has requested feedback from other FIF Members on the question below. If you have any information on this question, please send an email to
Are member firms currently going through, or have gone through, the application process with ASIC regarding a foreign Australian Financial Services (AFS) License? The member firm is currently going through the application process and has a question regarding board member background checks. The member firm uses a background check vendor. The background information from that vendor was provided; however, they are being told that only original source documentation is acceptable, and that ASIC will not accept vendor documentation. Have other FIF members gone through this process and if so what type of background documentation did they provide? Did firms have to get documentation from the various regulatory and government entities separately (FINRA, SEC, FBI, etc.)?