Ever wonder why ASIC is not promptly processing AFSL applications ?

For 1 January to 30 June 2015:

• ASIC assessed approximately 2050 applications, with 35% relating to a new licence application and the remaining 47% relating to variations to existing licence; 18% related to professional registration (liquidators and auditors)
• Of the total number of applications assessed, 47% of these related to an Australian financial services (AFS) licence and 35% related to an Australian credit licence
• 48% of all applications assessed during this period were approved
• 57% of those approved were in a form other than as requested by the applicant (with 71% of these relating to an AFS licence and 46% related to a credit licence)
• nine AFS licences were suspended, 98 AFS licences were cancelled and 192 credit licences were cancelled, and
• ASIC assessed 369 applications for professional registration as liquidators and auditors.

What they are not saying is how many of the applications for AFSL and or amendments to AFSL’s where lodged and remain outstanding pending a decision !

So ASIC please release this statistic, How many applications were received for AFSL’s and or amendments to AFSL’s, and of them how many remain un-assessed pending a decision ?

I’m certain that this statistic would alarm the FS sector !