Guidance Note: Renewal of AFA authorisation
Adviser authorisation is usually granted for a period of five years so make sure you know your authorisation expiry date. If you are an AFA and want to continue providing advice, you will need to apply before that date, to renew your authorisation. Under section 58 of the Financial Advisers Act 2008 (FAA), existing AFAs can renew their authorisation for a further five years.
If you choose not to renew your authorisation, you must stop offering financial advice upon the expiry of your authorisation. (Note: Under s114 of the FAA, an adviser can be fined up to $10,000, for offering financial adviser services without an authorisation).
This guidance note (available as a download below) explains the authorisation renewal process for AFAs and what is required.