GRCGuideline

RG 166

RG 166 AFS Licensing: Financial Requirements

RG 166 provides financial requirements for holders of an Australian Financial Services (AFS) licence, which vary based on the financial products and services offered. It excludes entities regulated by the Australian Prudential Regulation Authority (APRA) that are not required to comply with specific provisions of the Corporations Act 2001.

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Overview

This regulatory guide, issued by the Australian Securities & Investments Commission (ASIC), outlines financial requirements for entities holding an Australian Financial Services (AFS) licence. The guide addresses conditions based on the types of financial products and services provided, ensuring adequate financial capacity is maintained. It is not applicable to entities regulated by the Australian Prudential Regulation Authority (APRA) and exempt from compliance with section 912A(1)(d) of the Corporations Act 2001. The document also includes information on relevant legal instruments, such as the Deed of Subordination and the Deed of Mutual Release, with downloadable templates provided.

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