Apply to vary the authorisations or conditions on a financial services licence
Key facts
- Human involvement
- YellowClose supervision
- How AI is used
- From the licensee’s proposed new activities, its current licence and its organisational information, map each proposed activity to the authorisation needed, list the proofs and responsible manager information ASIC will expect, and draft the application narrative for the lawyer to rework.
- What the lawyer must review
- The lawyer decides the authorisations to seek, confirms responsible managers have the required competence for each, settles the narrative and proofs, and advises the licensee not to start the new activity until the variation is granted.
- Written for / version
- US
Open a jurisdiction version of this task to see which instruments apply: US
Who does what
| Role | What they do |
|---|---|
| Assistance | From the licensee’s proposed new activities, its current licence and its organisational information, map each proposed activity to the authorisation needed, list the proofs and responsible manager information ASIC will expect, and draft the application narrative for the lawyer to rework. |
| Lawyer | Set the scope, supervise the work closely, verify every part relied on, resolve omissions and exceptions, and approve the exact output. |
Checklist
- Confirm client and complaint records go only into a tool the licensee has approved for customer data, and that outputs disclose no client information beyond what the recipient needs.
- Check each proposed activity against the authorisation wording.
- Confirm responsible manager competence evidence for each new authorisation.
- Confirm the licensee understands it cannot provide the new service before the variation.
Sources
- ASIC, Varying your AFS licence · 2026-10-18
These are suggested working checks. Confirm the required checking with the responsible lawyer before work starts; the checking approach does not establish permission to use AI.