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The Australian Securities and Investments Commission (ASIC) has updated its Form FS11, which is used to apply for exemptions from Financial Services Licence (FSL) requirements under Australian financial services legislation. The form enables applicants to seek relief from FSL obligations under Part 7.7, Section 951B; Part 7.8, Section 992B; and Part 7.9, Section 1020F of the Corporations Act 2001 (Cth). The exemption application process covers various regulatory requirements, including minimum balances under Regulation 7.8.02(6), auditor independence provisions under Regulation 7.8.16, funds reporting obligations under Regulation 7.9.32, and foreign account requirements under Regulation 7.9.08. Applicants can now complete and lodge Form FS11 online through ASIC's regulatory portal using either the "Apply for an approval, consent, nomination or other" or "Apply for an exemption, declaration or order" transaction options, as applicable to their circumstances. The online portal also provides details regarding applicable fees and payment options. ASIC has streamlined the submission process by making online lodgement the primary method for this form type. Applicants seeking further information on the exemption application process, regulatory portal access, fee payments, or alternative lodgement methods should consult ASIC's guidance on how to lodge forms online, by email, or by mail. REFERENCES: Australian Securities and Investments Commission. Form FS11 – Application for exemption FSL requirements. Available at: https://asic.gov.au