Rated excellent on Google
AFSL Audit Services
AFSL audits that keep you clear of ASIC
Comprehensive audits for financial services licensees that mitigate regulatory risk and give you industry-leading systems.
- Transparent process from start to finish
- Ensure compliance with ASIC regulations effortlessly
- Tailored audit solutions for your needs
- Proven track record with 100% success rate
FREE · NO OBLIGATION · QUICK REPLY
Book a free audit consultation
Confidential. We never share your details.
Trusted by industry leaders
300+ AFSL holders · excellent on Google
HOW WE DO IT
AFSL compliance through expert audits, guaranteed
Watch how our structured audit process identifies and remedies issues before they become significant, keeping AFSL holders clear of regulator scrutiny.
BY THE NUMBERS
AFSL audits, by the numbers
SERVICE LINE
AFSL Audits & Investigations
Thorough governance audits that help you stay clear of enforcement action, plus expert support if ASIC or AUSTRAC come knocking.
Governance audit coverage
Regulators we work with
INDUSTRIES WE SERVE
Funds Management
Crypto
Payments
Brokers
Fintech
Insurance
HOW IT WORKS
Our compliance audit process
A structured approach that identifies and remedies issues before they become significant, tailored to the needs of AFSL holders.
1
Initial consultation
A free consultation to understand your business, compliance and any legacy issues, and to lay the foundation for the audit scope.
2
Audit preparation
We request the necessary documents: compliance procedures, registers and committee papers, review your history, and identify key personnel.
3
Execution of the audit
Our team conducts a thorough examination: meetings with responsible managers and directors, document review, and assessment of internal controls.
4
Reporting & recommendations
You receive detailed reports on your regulatory compliance, a summary of issues, and actionable recommendations to maintain compliance.
Peter Hagias, Founder
OUR FIRM
Who we are
In a regulated industry, the wrong partner can cost you your licence, your timeline and your sleep. AFSL House was built to be the opposite. Since 2020, founder and senior financial services lawyer Peter Hagias has led a team trusted by financial services businesses of every size. We take the stress and guesswork out of operating in a regulated environment.
We are more than a law firm. Alongside our 100% AFSL application success rate, we help you meet your ongoing regulatory obligations and commercial objectives with a number of complementary services. So whatever you need to launch your business and stay compliant, it is all under one roof.
CLIENT RESULTS
Real mandates, real outcomes
01/07
BTC Markets
Crypto Exchange
The first AFSL ever granted to a crypto exchange in Australia, backed by ongoing fixed-fee legal & compliance support.
THE OUTCOME
1st
AFSL for a crypto exchange in Australia
Retainer
Ongoing fixed-fee legal & compliance
AFSL APPLICATION • LEGAL • COMPLIANCE & REGULATION • RM RECRUITMENT
THE SITUATION
Australia’s leading crypto exchange needed legal and compliance expertise to navigate an ever-evolving crypto regulatory landscape, and wanted an AFSL to establish a payments business.
WHAT THEY NEEDED
Specialist legal and compliance expertise to stay ahead of fast-moving crypto regulation, and an AFSL to underpin a new payments business.
HOW WE HELPED
We secured the first AFSL ever granted to a crypto exchange in Australia, including the authorisations to support a payments business, and continue to act as an extension of their team under a fixed-fee retainer, providing dependable legal and compliance support as the landscape evolves.
Fixed fee · No obligation
Damisa
Cross-Border Payments & Crypto Brokerage
AFSL secured to power cross-border payments using stablecoin rails, crypto buy & sell and multi-currency capabilities, giving customers same-day settlement and the ability to settle payments in cryptocurrency.
THE OUTCOME
AFSL
Granted by ASIC
Stablecoins
Cross-border payments, crypto & multi-currency
AFSL APPLICATION · LEGAL · COMPLIANCE & REGULATION
THE SITUATION
A cross-border payment provider moving money in and out of Australia on behalf of customers using stablecoin rails, and wanting customers to be able to buy, sell and hold crypto and multiple currencies on its platform.
WHAT THEY NEEDED
A full-scope AFSL authorising cross-border payment services using stablecoins, the ability for customers to buy and sell crypto, and multi-currency capabilities.
HOW WE HELPED
We guided Damisa through a rigorous ASIC application and secured its AFSL, authorising cross-border payment services, enabling customers to buy and sell crypto, and providing multi-currency capabilities. We also assisted with AML registration as a remitter, ongoing legal and compliance set-up, PDS, FSG, TMD and T&Cs preparation, and support securing local banking and liquidity providers.
Fixed fee · No obligation
Bless Payments
Payments & Remittance
A turn-key path to market, covering the full legal stack, an AFSL and AUSTRAC remittance registration.
THE OUTCOME
Turn-key
Legal, disclosure & licensing build
AFSL + AUSTRAC
Licence & remittance registration
AFSL APPLICATION • LEGAL • COMPLIANCE & REGULATION • RM RECRUITMENT
THE SITUATION
A payments and FX business preparing to come to market and needing its entire regulatory and legal foundation built from the ground up.
WHAT THEY NEEDED
Support across every element of operating a payments and FX business, including an AFSL, AUSTRAC registration and the full suite of legal documents.
HOW WE HELPED
We delivered a turn-key solution across their payments and FX business, preparing the legal documents and securing the AFSL and AUSTRAC remittance registration, and we continue to provide ongoing services today.
Fixed fee · No obligation
Curated Capital
Wholesale Property Fund
Licensed to offer wholesale property syndicates, with ongoing legal and compliance support.
THE OUTCOME
AFSL
Granted for wholesale syndicates
Ongoing
Legal & compliance support
AFSL APPLICATION • LEGAL • COMPLIANCE & REGULATION
THE SITUATION
A wholesale property fund preparing to offer property syndicates to its clients.
WHAT THEY NEEDED
An AFSL and the disclosure documents required to offer wholesale property syndicates, plus ongoing legal and compliance support, including assistance administering each wholesale property syndicate.
HOW WE HELPED
We obtained their AFSL and established the disclosure documents required to offer wholesale property syndicates, and we provide ongoing legal and compliance support, including assistance administering each wholesale property syndicate.
Fixed fee · No obligation
Hello Clever
Fintech & Payments
From an established business to a fully licensed, regulated product offering.
THE OUTCOME
Full-scope
AFSL secured
RMs placed
Responsible Managers sourced
AFSL APPLICATION • LEGAL • COMPLIANCE & REGULATION
THE SITUATION
An existing business looking to expand its product set into regulated financial offerings for the first time.
WHAT THEY NEEDED
To move through the AML registration phase, uplift its AML/CTF documentation and processes, and obtain a full-scope AFSL with the right Responsible Managers.
HOW WE HELPED
We guided them through AML registration, updated their AML/CTF documentation and processes, sourced Responsible Managers and secured a full-scope AFSL, and now support them with their ongoing legal and compliance requirements on a fixed-fee retainer.
Fixed fee · No obligation
Toss
Global Super-App
Korea’s leading financial SuperApp, now licensed to provide remittance services in Australia.
THE OUTCOME
5 months
To a granted AFSL
End-to-end
Market entry & licensing
AFSL APPLICATION • LEGAL • COMPLIANCE & REGULATION • RM RECRUITMENT
THE SITUATION
Korea’s leading financial SuperApp seeking to establish a licensed remittance business in Australia.
WHAT THEY NEEDED
To establish a licensed remittance business in Australia, including a local presence and the licences and registrations required to provide domestic P2P payment services.
HOW WE HELPED
We stood up their Australian operations, covering incorporation, resident director, Responsible Manager, AFSL application and AML remittance registration, and secured the licence in five months. We now provide ongoing legal and compliance support.
Fixed fee · No obligation
Immersve
Crypto Payments
Licensed, supported on an ongoing basis, and progressed toward Mastercard principal membership.
THE OUTCOME
AFSL
Granted & maintained
Mastercard
Principal membership work
AFSL APPLICATION • LEGAL • COMPLIANCE & REGULATION • RM RECRUITMENT
THE SITUATION
A global crypto-to-card payments business looking to establish operations in Australia and access card-scheme infrastructure.
WHAT THEY NEEDED
An AFSL, ongoing legal and regulatory support, and assistance securing Mastercard principal membership.
HOW WE HELPED
We obtained their AFSL and assisted them in accessing card-scheme infrastructure, including their Mastercard principal membership, at the outset. We now provide ongoing legal support, helping them navigate and comply with their local legal and regulatory requirements.
Fixed fee · No obligation
Interstellar Capital
Wholesale Property Fund
AFSL secured and disclosure documents built for wholesale property syndicates.
THE OUTCOME
AFSL
Granted for wholesale syndicates
Ongoing
Legal & compliance support
AFSL APPLICATION • LEGAL • COMPLIANCE & REGULATION
THE SITUATION
A wholesale property fund bringing property syndicates to its investors.
WHAT THEY NEEDED
An AFSL and compliant disclosure documents for wholesale property syndicates, backed by ongoing legal and compliance support.
HOW WE HELPED
We obtained their AFSL and established the disclosure documents required to offer wholesale property syndicates, and we provide ongoing legal and compliance support.
Fixed fee · No obligation
TESTIMONIALS
Rated 5-star by our clients
Book your free, no-obligation consultation
Have a related, no-pressure chat with one of our senior AFSL lawyers. You’ll walk away knowing exactly where you stand and what to do next.
Peter Hagias & team
WHY AFSL HOUSE
Why Choose AFSL House?
Our point of difference is simple: we specialise in working exclusively with financial services companies, offering solutions that combine best practice processes with full legal compliance.
Deep industry understanding
We have an intimate understanding of the issues financial services companies face and how leading businesses in your industry are addressing them.
Best practice + legal compliance
Our solutions marry best practice processes with legally compliant strategies to ensure your business operates efficiently and effectively.
Broader perspective
We apply a different perspective to your challenges, going beyond the narrow focus of traditional law firms or compliance providers to deliver holistic, practical solutions.
AFSL VIDEO SHORTS
AFSL, explained by our lawyers
Quick, plain-English answers to the questions we hear most, straight from the specialists who handle your licence.
Book your free, no-obligation consultation
Have a related, no-pressure chat with one of our senior AFSL lawyers. You’ll walk away knowing exactly where you stand and what to do next.
INSIGHTS LIBRARY
The latest news & insights
News, regulatory updates and analysis from our financial services lawyers, straight from the AFSL House desk.
Free 90-seconds Assessment
Not sure where you stand with your AFSL?
Answer a few quick questions and we’ll build you a personalised AFSL action plan, based on the very things ASIC will expect from you. It takes about 90 seconds.
- Takes under 2 minutes
- Tailored to your business type
- No cost, no obligation
FREE DOWNLOADS
Free & practical AFSL guides & checklists
Practical guides, roadmaps and checklists that make getting ready simple, written by the lawyers who do this every day.
THE DETAIL
Our 10-point AFSL compliance audit, covered
01
Policies & procedures
Whether your compliance policies and procedures are current, fit for purpose and embedded in the business.
02
Compliance committee & papers
Review of compliance committee minutes, meeting papers and the cadence of oversight.
03
Organisational competence
Whether your Responsible Managers still meet ASIC’s competence requirements for your authorisations.
04
Internal controls & reporting
The strength of internal controls, monitoring and the reporting that flows up to management.
05
Financial requirements
Whether you continue to meet the financial resource and solvency conditions of your licence.
06
Breaches & complaints
Your breach and complaint history, how it was handled, and what was reported to ASIC.
07
Advice & service delivery
How financial services and advice are delivered to clients against your obligations.
08
Marketing & disclosure
Marketing materials and disclosure documents (FSG, PDS, TMD) reviewed against ASIC’s expectations.
09
Registers & records
Whether your registers and records are accurate, current and complete enough to withstand scrutiny.
10
Licences & registrations
That your licence authorisations and registrations remain valid and match what you actually do.
ONGOING & INVESTIGATIONS
Audits, reporting & investigations support
Compliance is ongoing. We help you meet your annual audit and reporting obligations, and stand beside you if a regulator ever investigates.
Annual audits & FS70/FS71
We help you lodge annual accounts and audit reports using forms FS70 and FS71 with ASIC, on time, every year.
Risk management systems
We assess and strengthen your risk management systems, conflicts management and dispute resolution for retail clients.
Investigations support
Experienced support for ASIC, AUSTRAC and TPB investigations, from breach reports to suspicious-matter reviews.
Records & registers
Ongoing help keeping your registers, records and disclosure documents accurate and current to avoid scrutiny.
Book your free, no-obligation consultation
Have a related, no-pressure chat with one of our senior AFSL lawyers. You’ll walk away knowing exactly where you stand and what to do next.
WHY WE DO
Market-leading, comprehensive AFSL services
A comprehensive range of services tailored to financial services companies seeking an Australian Financial Services Licence and ongoing compliance support.
AFSL Applications
A 100% success rate in AFSL applications, helping clients obtain their licence in record time.
ACL Applications
End-to-end Australian Credit Licence applications for lenders, brokers and credit providers, prepared and lodged for you.
Compliance & Regulation
Tailored risk and compliance frameworks to ensure you comply with your AFSL obligations.
Legal Support
Specialised AFSL lawyers providing holistic legal services to AFSL holders & applicants.
AFSL Audits & Investigations
Comprehensive governance audits to avoid enforcement action and assist in ASIC & AUSTRAC investigations.
AFSL for Hire
Be appointed as a Corporate Authorised Representative under our AFSL to start operating quickly.
Marketplace for AFSL
Connecting AFSL holders and applicants with qualified Responsible Managers, with expert sourcing and placement handled for you.
AFSL Responsible Manager Recruitment
Connecting AFSL holders and applicants with qualified Responsible Managers. Expert RM sourcing and placement.
White-Label Services
Enabling legal and consulting firms to offer AFSL expertise under their own brand.
FAQ
Frequently asked questions
How often do I need to undergo an AFSL audit?
All AFSL holders must undergo an annual audit, with financial statements typically lodged within 3-4 months after the end of the financial year. For disclosing entities, the deadline is shorter at three months.
What are the benefits of undertaking a risk audit of your AFSL business?
Risk audits help AFSL holders identify and address issues before ASIC does, making the business more robust from a compliance perspective by identifying process flaws and unmanaged risks.
How long does the audit process take?
The typical timeline for completing an AFSL audit can vary, but it generally takes several weeks to gather documents, conduct the audit, and prepare the final reports. Factors such as the complexity of the financial services business and the responsiveness of the licensee can influence the duration. Licensees should plan ahead to ensure timely completion and lodgment of required forms.
What are the costs associated with an AFSL audit?
While specific costs are not discussed, clients can expect a transparent pricing structure based on the complexity of their audit requirements. Factors influencing the cost may include the size of the organisation and the scope of the audit services needed. It is advisable for clients to discuss potential costs upfront to avoid any surprises.
What documents are needed for an AFSL audit?
Key documents required for an AFSL audit include financial statements, compliance records, and internal policies and procedures. Specifically, licensees must prepare forms FS70 and FS71, which include the profit and loss statement, balance sheet, and the auditor’s report. Having these documents organised and readily available will facilitate a smoother audit process.
What happens if I fail to comply with AFSL requirements?
Failing to comply with AFSL requirements can lead to penalties, legal ramifications, and potential loss of the financial services license. Non-compliance may also result in increased scrutiny from ASIC and could jeopardise the licensee’s ability to operate. It is crucial for licensees to address any compliance issues promptly to mitigate these risks.
Can AFSL House assist with the lodgment of forms FS70 and FS71?
Yes, AFSL House can assist clients with the preparation and submission of forms FS70 and FS71 to ASIC as part of the audit process. This includes ensuring that all necessary documentation is complete and compliant with regulatory requirements. By providing this support, AFSL House helps clients navigate the lodgment process efficiently.
What is AFSL House's experience with audit investigations?
We’ve dealt with ASIC, AUSTRAC, and the TPB on various investigations, including responding to ASIC on why a business does not hold an AFSL, significant breach reports, and random reviews. We’ve also handled AUSTRAC investigations on suspicious matter reports and TPB matters related to alleged breaches of the Code of Conduct.