We are pleased to announce that Balance Legal Capital has been granted an Australian Financial Services Licence (AFSL) by the Australian Securities & Investments Commission (ASIC) effective from 21 April 2021. We understand we are the first non-Australian litigation funder to be granted an AFSL since new rules introduced by the Australian Government in 2020 required litigation funders to carry an AFSL. Balance is therefore well-positioned to continue to fund new class actions in Australia.
Simon Burnett, Partner, commented: “We’re delighted to have been granted an AFSL. It is a testament to our operational readiness and our ongoing commitment to funding meritorious actions in Australia.”