Who must comply with Authorise representatives correctly (Authorised Representative regime)?

AFSL holders must authorise representatives in writing and notify ASIC of new ARs within 15 business days.

Sections 916A-916F of the Corporations Act govern authorised representatives. AFSL holders must authorise ARs in writing, specify the services covered, retain a register, and lodge with ASIC within 15 business days (extended timeframes for sub-authorisations). Some authorisations require AFCA EDR membership for the AR.

Applies when the business has an AFSL. Where the business has financial products no afsl, check whether you provide financial services (you then need an AFSL or authorised-representative status).

How the regulator frames it: AFSL holders using authorised representatives.

What triggers it: Engaging or terminating an AR; varying authorisations.

Jurisdiction: Commonwealth law, so the test is the same in every state and territory.

Outcome across the 35 industries Rules Mate maps (35 of 35: no).

The answer is the same in every industry: no. Industry does not change who must comply.

Structure does not change the answer across all industries: for every structure the answer is "no".

Size does not change the answer across all industries: at every size band the answer is "no".

Each line is one run of the Rules Mate applicability engine for a single business profile, with the reason the engine gives:

• Pty Ltd company in real estate agents with 6–19 employees, turnover $1M–$3M: does not apply. Requires an AFSL.

Starting from a small or large professional services company that does not otherwise meet the test, each of these single facts changes the engine's answer:

• The business holds an Australian financial services licence (AFSL): it then applies (AFSL holder).
• The business issues financial products or gives financial product advice: it becomes worth checking, because it applies only if you provide financial services (you then need an AFSL or authorised-representative status).

The engine shows this obligation as "check whether this applies" when a business has financial products no afsl. It then applies only if you provide financial services (you then need an AFSL or authorised-representative status). That fact is not something Rules Mate can infer from industry, structure or size.

When due

Notification within 15 business days.

Frequency

When a triggering event occurs

Evidence to keep

Written authorisation, AR register, ASIC FS20 / FS31 lodgement, AFCA membership confirmation.

Status

Current

Priority

High

Maximum penalty: Civil penalties + ASIC compliance action.

Rules Mate has not yet classified the audit or assurance level for this obligation. Any audit, review or certification requirement is set by the regulator source listed below.

If this obligation applies to you, so do these 7: the engine uses the same rule for each.

• Comply with AFSL general obligations (s 912A)
• Maintain adequate PI insurance (AFSL holders, RG 126)
• Maintain Financial Adviser registration + standards (s 921B)
• Ban on conflicted remuneration (FOFA)
• AFSL representative training (RG 146)
• Provide FSG + Statement of Advice to retail clients
• Best interests duty for financial advisers (s 961B-G)

• Comply with Design and Distribution Obligations (DDO): Issuers and distributors of retail financial products must have a Target Market Determination (TMD) and distribute consistently with it.
• Design and Distribution Obligations (DDO) — RG 274: Issuers + distributors of retail financial products bound by DDO from 5 October 2021.
• Hold AFSL with derivative authorisations (margin lending + CFD + binary): Issuers of OTC derivatives to retail clients face product intervention orders + tightened conditions.
• Lodge a prospectus for offers requiring disclosure: Offers of securities to retail investors require a prospectus or OIS lodged with ASIC.
• Register a Managed Investment Scheme under Ch 5C: Schemes with 20+ retail members must be registered with ASIC as MIS.

Rules Mate tracks 17 published obligations tagged "financial services", 12 of them rated critical. For a professional services Pty Ltd company with 6–19 employees operating in every state, 0 of those apply outright. This obligation is rated high priority, and is triggered by events.

Regulated by Australian Securities and Investments Commission.

ASIC: Corporate regulator administering the Corporations Act, financial services and credit licensing (AFSL/ACL), markets supervision, insolvency, and registries (ASIC and ABRS).

• Australian Securities and Investments Commission

Corporations Act: The foundational federal Act for Australian corporate law.

• Corporations Act 2001

Free tools that help with this obligation:

• CPS 230 readiness scorer
• CPS 234 readiness scorer
• Reportable situations timer