Australia launches new license application portal

It has automatic pre-filling of application details.

The Australian Securities & Investments Commission (ASIC) has launched a new portal for applicants applying for an Australian financial services (AFS) license.

The portal is expected to provide a “more efficient, modern, and user-friendly experience for AFS licence applicants,” according to a statement posted on the ASIC website.

The existing eLicensing system will remain operational until the transactions are available in the new portal. Until then, AFS license applicants can lodge their application via the regulatory portal or the eLicensing system.

The key changes include the automatic pre-filling of application details, eliminating the need to separately upload additional documentation, and the ability to select financial products and services at a more granular level, ASIC said.