Applying for your Australian credit licence
Content Summary
To be eligible to apply for an ACL, you will need to meet specific education and experience requirements set by ASIC, to demonstrate that you can comply with the organisation competence requirements to hold an ACL.
If you cannot meet these requirements, it is unlikely that applying for your own licence will be something that you could consider in the first instance. However, this may be something that you wish to pursue in the future.
General requirements
In addition to meeting the organisational competence requirements, you will also need to demonstrate that you can meet the ACL:
- general conduct obligations
- your broad compliance obligations
- your internal systems
- your people
- your resources
- dispute resolution requirements
- compensation arrangements.
ASIC resources
Discover more
Regulations for financial planning
Regulation of SMSF advice, regulation of consumer credit and regulation of tax (financial) advisers
- Financial planning
Become a financial adviser
Discover the education and experience requirements and ethical obligations for financial advisers
- Financial planning
Activities that can be provided without holding a credit licence
What you can and can’t provide to a consumer without an Australian credit licence
- Financial planning
Regulation of SMSF advice
Accountants often provide advice on SMSF to clients
- Financial planning
Become a credit representative
Compliance, regulation and the training requirements for becoming a credit representative
- Financial planning
Accountant's letters
Accountant’s letters, declarations and capacity to repay certificates
- Financial planning