ASIC licensing and professional registration activities: 2025 update

Key insights from ASIC's latest annual "Licensing and Professional Registration Activities Report " for potential AFSL applicants.

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ASIC"s Report 825 contains useful insights for AFS licensees and applicants.

ASIC has published its year "Licensing and professional registration activities report" for 2025 ("Report 825".). This Gen Advisory blog post highlights the Report's key insights for potential Australian Financial Services Licence (AFSL) applicants.

Key insights from Report 825

• In May 2025, ASIC launched its new AFSL licensing portal - aimed at providing AFS licensees and applicants with a more efficient and user-friendly experience in applying for and maintaining licenses.

  
  

• In conjunction with the launch, ASIC consolidated previous regulatory guides (collectively known as the "AFS Licensing Kit") into a single regulatory guide (ASIC RG 1),

  
  

• ASIC saw a 10% increase in new AFSL applications in 2025.

  
  

• One notable development has been an increase in the number of digital asset (crypto)-related AFSL applications.

  
  

  ASIC expects the above trend to continue in light of ASIC's updated Information Sheet INFO 225 (published in October 2025) - which confirms ASIC's position that many digital assets are financial products under the existing regulatory regime.

Looking ahead

ASIC expects its AFS licensing regime will continue to evolve and expand to new include new products and services. For example:

• Government legislation introduced in December 2024 has extended the Australian Credit Licence (ACL) regime to Buy Now Pay Later (BNPL) products.

  
  

• ASIC expects its AFS licensing regime to expand to include a larger population of payment services providers (PSPs) and digital assets-related entities if proposed regulatory reforms are passed.

How Gen Advisory can help

As ex-APRA regulators and financial sector experts, the Gen Advisory team has helped numerous Payment Service Providers (PSPs), technology-enabled financial advisory firms and other FinTechs successfully apply for AFSLs.

The Gen Advisory team is currently helping several PSPs apply for AFSLs ahead of the impending payments licensing reforms. Accordingly, our team has had hands-on experience with the above-mentioned new ASIC licensing system and its nuances.

If you’re a PSP or FinTech looking to apply for an AFSL in 2026, please reach out to Michael Lukman (michael.lukman@gnad.com.au) or Clement Fernandez (clement.fernandez@gnad.com.au). 

Useful Links

1. ASIC "Licensing and professional registration activities: 2025 update (Report 825)", November 2025.

2. ASIC Regulatory Guide RG 1, "Applying for and varying an AFS Licence", issued 16 June 2025.

3. ASIC Information Sheet INFO 225, "Digital assets and financial products", issued October 2025.

4. Australian Treasury, "Payments licensing reforms", issued October 2025.

Note: This article is of a general nature and not intended to address the objectives, financial situation or needs of any particular individual or entity. It is provided for information purposes only and does not constitute professional or legal advice.

Should you have any questions regarding this article, please get in touch with the Gen Advisory team.