Foreign financial services providers
Generally, if you carry on a financial services business in Australia, you will need to hold an Australian financial services (AFS) licence. The exceptions to this are if we grant relief or an exemption applies.
Particular requirements apply to foreign financial services providers (FFSPs) that provide financial services to wholesale clients in Australia. Pending the outcome of the Australian Government’s consultation regarding the regulation of FFSPs, transitional arrangements will continue to apply to the regulation of FFSPs.
Transitional arrangements for FFSPs until 31 March 2025
The following transitional arrangements apply, to providers of financial services to wholesale clients in Australia, until 31 March 2025:
The relief in the legislative instruments listed below has been extended until 31 March 2025 (see 23-211MR and ASIC Corporations (Amendment) Instrument 2023/588).
- ASIC Corporations (Repeal and Transitional) Instrument 2016/396
- ASIC Corporations (CSSF-Regulated Financial Services Providers) Instrument 2016/1109, and
- ASIC Corporations (Foreign Financial Services Providers—Limited Connection) Instrument 2017/182
Alternatively, an FFSP may apply to ASIC for temporary individual relief from the requirement to hold an AFS licence. For information on how to make an application, see Apply for relief.
Any notifications that an FFSP is required to submit to comply with the relief during the transitional period should be sent by email addressed to FFSP@asic.gov.au. You can contact ASIC on 1300 300 630 (or +61 3 5177 3988 if dialling from overseas) for general information and assistance.