Regulatory Alerts2018-09-20 | RG-098RG 98 ASIC’s powers to suspend, cancel and vary AFS licences and make banning orders
The Australian Securities and Investments Commission issued this guide to explain its administrative powers under the Corporations Act to enforce compliance with financial services licensing provisions. It details the procedures for suspending, cancelling, and varying Australian Financial Services licences as well as making banning orders. The document further outlines the specific matters the regulator generally considers when exercising these enforcement powers.
Issued 17 November 2022
This guide is for AFS licensees, their representatives, and advisers.
It describes the administrative powers available to ASIC to enforce compliance with the Corporations Act, including the financial services licensing provisions, by suspending, cancelling and varying AFS licences and making banning orders. It also indicates the matters ASIC generally takes into account when exercising these powers.
Download RG 98 (PDF 554 KB)