ob体育 today published its second report on its approach to licence applications.
Report 448 Overview of licensing and professional registration applications: January to June 2015 (REP 448) sets out recent regulatory outcomes achieved by ob体育 in relation to Australian financial services (AFS) applications, Australian credit licence applications, liquidator registration applications, company auditor and approved SMSF auditor registration applications.
The report is part of ob体育鈥檚 ongoing commitment to providing greater public information about our regulatory activities. ob体育鈥檚 first licensing activity report was published in May 2015 (refer: 15-118MR).
ob体育 Deputy Chairman Peter Kell said, 鈥楢s we did in our first report, today鈥檚 report highlights ob体育鈥檚 continuing focus on retail OTC derivatives and marketplace lending, and also discusses the additional areas of digital (robo) advice, limited licensing, consumer leases and Centrepay, and ob体育鈥檚 recently announced Innovation Hub.鈥�
For 1 January to 30 June 2015:
- ob体育 assessed approximately 2050 applications, with 35% relating to a new licence application and the remaining 47% relating to variations to existing licence; 18% related to professional registration (liquidators and auditors)
- Of the total number of applications assessed, 47% of these related to an Australian financial services (AFS) licence and 35% related to an Australian credit licence
- 48% of all applications assessed during this period were approved
- 57% of those approved were in a form other than as requested by the applicant (with 71% of these relating to an AFS licence and 46% related to a credit licence)
- nine AFS licences were suspended, 98 AFS licences were cancelled and 192 credit licences were cancelled, and
- ob体育 assessed 369 applications for professional registration as liquidators and auditors
Licensing liaison meetings
ob体育 is also organising meetings in Sydney on Monday 26 October 2015 and Melbourne on Tuesday, 27 October 2015. Licensing聽will also become a topic for discussion at ob体育鈥檚 regional liaison meetings in Adelaide, Brisbane, Hobart and Perth. We will be publishing an agenda for these meetings on our website and invitations will be sent out to our targeted audience of advisers and service providers shortly.
Mr Kell said, 鈥榃e encourage people to attend as the meetings will provide insights into ob体育鈥檚 regulatory approach to its licensing and professional registration responsibilities. They will cover current topics relevant to the application for a licence and professional registration process.
鈥楽enior staff will be available to present information and respond to questions.鈥�
For details on the meetings and to RSVP to attend click
Download REP 448