Frank Varga
LinkedinHead of LicensingFrank joined Holley Nethercote in November 2017 as a Licensing Consultant and is now the Head of Licensing. Frank has had over 30 years’ experience in analytical and senior management roles at ASIC, including overseeing the Licensing team for the final 15 years of his time there.
Favourite Quote
“Always pass on what you have learned.” – Yoda
My Thoughts
FACT SHEET: Do I need an Australian Financial Services Licence (AFSL)?
22 Feb 2024The law says that you need an Australian Financial Services Licence (AFSL) if you are a “person” who carries on a “financial services” business in this jurisdiction. (This article includes hyperlinks to legal provisions for…
FACT SHEET: Key AFSL Requirements
21 Feb 2024How do I get an AFSL, you ask? Below, we outline the key requirements required for applying for and obtaining an AFSL. If you decide to obtain an AFSL, it is critical that you understand…
FACT SHEET: AFSL Costs
20 Feb 2024So, you think you’re ready to apply for your own AFSL. What are the costs should you be prepared for? Preparing You can attempt to prepare and submit your own application for a licence. However,…
FACT SHEET: The AFSL Application Process
17 Feb 2024Before applying for a licence, you need to know: 1. Why are you applying? “Branding” alone won’t cut it. You need to convince ASIC that you need a licence. You may need to get legal…
FACT SHEET – Should I have my own AFSL?
11 Feb 2024Does the licensing regime prevent you from being an authorised representative of an existing AFSL holder? Are you getting tired of receiving bills from your licensee for the privilege of being a representative under their…
FACT SHEET: Top 10 Tips for a Successful AFSL Application
08 Feb 2024Here are our top 10 tips for a successful AFSL application. Organisational competency, as demonstrated by your Responsible Manager, will make or break your application. Get good legal advice at the very beginning on the…
Responsible Managers and the Key Person Condition – The Consequences
20 Jan 2021We have previously discussed what does it mean to be a Responsible Manager? To recap, Section 912A of the Corporations Act, which sets out the key obligations of an AFS Licensee, requires a licensee to “maintain…
I Want to Buy an AFSL
12 Oct 2020“Do you have an AFSL that we can buy?” This is a regular query that we receive which results in a lengthy response. Buying an Australian Financial Services Licence (AFSL) is not a simple…
Current ASIC trends in AFSL and ACL applications and variations
05 Jul 2019Some of you reading may already hold a licence issued by ASIC, be it an AFSL, an ACL or both. If you’re not looking to set up a new business or expand your current business…
Are you paying too much for your ASIC Industry Funding Levy?
04 Apr 2019ASIC has now issued levies for the 2017 – 2018 financial year. These invoices were due to be paid by 15 March 2019. Late payment penalties apply from 1 April 2019 and these are as…
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