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Hume Bank Limited ABN 85 051 868 556 ADSL & Australian Credit License No. 244248 Effective 1 July 2017Product Disclosure Statement Product features and Terms and Conditions for: Savings Accounts Investment
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The Australian Financial Services License (AFSL) is a license issued by the Australian Securities and Investments Commission (ASIC) that allows entities to carry on a financial services business in Australia. Australian Credit License (ACL) is a license issued by ASIC that allows entities to engage in credit activities in Australia.
Entities engaging in financial services or credit activities in Australia are required to obtain the relevant license and comply with the regulatory requirements set out by ASIC.
To apply for an AFSL or ACL, entities must submit an application to ASIC and comply with all relevant regulations and requirements. The application process may include providing detailed information about the entity's operations, compliance processes, and financial standing.
The purpose of AFSL and ACL is to regulate financial services and credit activities in Australia, ensure consumer protection, and maintain the integrity of the financial system.
Entities applying for an AFSL or ACL must provide detailed information about their operations, compliance processes, financial standing, and any other information requested by ASIC.
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