This licence authorises the licensee to carry on a financial services business to:
provide general financial product advice to retail and wholesale clients for the following classes of financial products:
deposit and payment products limited to:
non-cash payment products; and
foreign exchange contracts;
provide financial product advice to wholesale clients for the following classes of financial products:
derivatives restricted to derivatives that are:
arrangements whose value, or under which the amount of the consideration that must or may be required to be paid, is ultimately determined, derived from or varies by reference to (wholly or in part) the amount of currency (whether Australian or not) and the value of the relevant exchange rate(s); and
utilised for the management of financial risk (hedging) which only have the purposes of:
management or mitigation of the financial consequences of particular circumstances happening; or
avoiding or limiting the financial consequences of fluctuations in the rate of exchange of foreign currency; and
deal in a financial product by:
issuing, applying for, acquiring, varying or disposing of a financial product to retail and wholesale clients in respect of the following classes of financial products:
deposit and payment products limited to:
non-cash payment products; and
foreign exchange contracts;
issuing, applying for, acquiring, varying or disposing of a financial product to wholesale clients in respect of the following classes of financial products:
derivatives restricted to derivatives that are:
arrangements whose value, or under which the amount of the consideration that must or may be required to be paid, is ultimately determined, derived from or varies by reference to (wholly or in part) the amount of currency (whether Australian or not) and the value of the relevant exchange rate(s); and
utilised for the management of financial risk (hedging) which only have the purposes of:
management or mitigation of the financial consequences of particular circumstances happening; or
avoiding or limiting the financial consequences of fluctuations in the rate of exchange of foreign currency; and
applying for, acquiring, varying or disposing of a financial product on behalf of another person to retail and wholesale clients in respect of the following classes of products:
deposit and payment products limited to:
non-cash payment products; and
make a market to retail and wholesale clients for the following financial products:
foreign exchange contracts; and
make a market to wholesale clients for the following financial products:
derivatives restricted to derivatives that are:
arrangements whose value, or under which the amount of the consideration that must or may be required to be paid, is ultimately determined, derived from or varies by reference to (wholly or in part) the amount of currency (whether Australian or not) and the value of the relevant exchange rate(s); and
utilised for the management of financial risk (hedging) which only have the purposes of:
management or mitigation of the financial consequences of particular circumstances happening; or
avoiding or limiting the financial consequences of fluctuations in the rate of exchange of foreign currency.
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