ASIC has released Regulatory Guidance to help businesses understand whether they require an Australian financial services (AFS) licence to provide financial products and services in relation to carbon markets and emissions units.

RG 236 Do I need a licence to participate carbon markets? provides:

  • an introduction to ASIC’s role in relation to carbon markets and emissions units
  • details regarding which emissions units are financial products and when you are likely to require an AFS licence, and
  • an outline of the steps required to apply for an AFS licence or vary an existing licence.

When can I apply?

ASIC will accept applications for new AFS licences or variations relating to emissions units when regulations amending the Corporations Act are finalised. This is likely to occur by May 2012.

How can we assist?

Certainty has extensive experience assisting businesses obtain and vary AFSLs, we recommend that you start preparing for your licence application or variation soon, prior to ASIC’s estimated start date.

We welcome you to contact us to discuss how these requirements apply to your business on 02 8324 5300 or enquiries@certaintycompliance.com.au

For further information

See the full ASIC media release here: 12-45AD ASIC releases guidance and policy proposals for carbon financial products.

Further consultation

ASIC have also released (CP 175) Carbon markets: training and financial requirements, and is seeking feedback on proposals to apply current policies on training for financial advisers and financial requirements to these licensees.

Comments are due to ASIC by 10 April 2012.