ASIC does not give a single fixed timeframe for every AFSL application. Under ASIC’s current service charter, it aims to decide 70% of complete AFS licence applications within 150 days and 90% within 240 days, with longer timeframes for incomplete or complex matters.
Expanded Answer
ASIC’s current position is that timing depends on the completeness and quality of the application, the nature of the proposed business, the market you plan to operate in, and any other information ASIC considers relevant during assessment.
In practice, well-prepared applications with clear authorisations, coherent supporting documents, and prompt responses to requisitions move more efficiently. Applications usually take longer where documents are incomplete, the business model is complex, or ASIC needs further clarification.
Risk increases where applicants rely on generic documents, misaligned Responsible Managers, or unclear governance and compliance arrangements. ASIC’s focus is on making a decision on a complete application, not on meeting an informal market estimate.
Why it matters
Using unofficial timeframe estimates can mislead planning. ASIC’s published benchmarks are tied to complete applications, and delays often reflect quality and complexity rather than regulator inactivity.
Practical guidance
- Plan around ASIC’s service charter benchmarks rather than informal market ranges
- Submit a complete application with aligned supporting evidence
- Respond to ASIC queries promptly and consistently