Authorised representatives
Authorised representatives
An AFS licensee may authorise an individual (known as an ‘authorised representative’) to provide specified financial services on its behalf. These authorised representatives may be:
- individuals
- bodies corporate
- partnerships, or
- a group of individuals and/or bodies corporate that are the trustees of a trust.
An employee or director of a licensee is a representative of the licensee and does not need to be appointed as an authorised representative.
Any authorised representative of an Australian financial services (AFS) licensee may appoint or ‘sub-authorise’ individuals to provide financial services on behalf of the AFS licensee, as long as the AFS licensee consents to the appointment. For example, a body corporate that is an authorised representative will generally need to sub-authorise its directors and employees in order to provide financial services on behalf of the AFS licensee.
An authorised representative that sub-authorises an individual is referred to as an ‘authoriser’.
AFS licensees and authorisers that appoint authorised representatives must notify us of the authorisation. There are limitations to this requirement explained in s916F(1AA) of the Corporations Act 2001.
If an authorised representative is also a relevant provider, the individual must also be appointed to the Financial Advisers Register.
More information
- Appointing and ceasing authorised representatives
- Information Sheet 91 Who can be an authorised representative of an AFS licensee (INFO 91)
- Information Sheet 88 Notifying ASIC of the appointment of an AFS authorised representative (INFO 88)
- Online services for relevant providers and authorised representatives
Relevant providers
An employee or director of a licensee who providers personal advice to retail clients on relevant financial products does not need to be appointed to the Authorised Representative Register. They do however need to be appointed to the Financial Advisers Register.
If the relevant provider is also an authorised representative, the individual must also be appointed to the Authorised Representative Register.
More information
