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Documentation Requirements

The following contains all the document requirements  for all new and existing Australian Financial Services Licence (AFSL) applicants and holders.

 

 

 

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Documentation Requirements

Existing AFSL holders:

The ordinary documentation that AFSL holders are required to provide their clients, (such as Financial Services Guides) still stands.

In addition, existing AFSL holders wishing to offer Binary Options as an additional product should review the following documents:

  • Product Disclosure Statement (PDS) – under a separate heading in the PDS, make provisions for the terms and conditions on which the Binary Options are offered.
  • Client Agreement (Terms and Conditions) – Although Binary Options are Contracts For Difference (CFDs) by nature, they have different terms and conditions and should be offered under those terms rather than standard CFD terms.  This will involve issuing a new Client Agreement for a Binary Options product.

New AFSL Applicants:

AFSL holders wishing to offer Binary Options will need to prepare the following documents for provision to clients under the Australian regulatory regime:

  • Financial Services Guide (FSG) – an introductory document which provides clients with information about your firm as required by ASIC guidelines.
  • Product Disclosure Statement (PDS) – a detailed description of the product you are offering covering all of the information specified by ASIC which product providers need to give to clients before an issuance is undertaken.
  • Client Agreement (Terms and Conditions) – Contractual terms on which you will engage with the client.