Equity Story Group Ltd. announces a new agreement to become an AFSL Corporate Authorised Representative ("CAR") to provide expanded financial services.
To date, the Company's existing 100% operating subsidiary Equity Story Pty Ltd. has been limited to providing general securities advice only under AFSL 343937.
EQS has established a new 100% subsidiary Equity Story Securities Pty Ltd, which has entered into a CAR agreement with an AFSL licensee. ASIC has advised Equity Story Securities Pty Ltd. that it holds representative number 001297372. Following the agreement, Equity Story Securities Pty Ltd. is authorised to provide
financial services in the following financial products: 1. Provide financial product advice to retail and wholesale clients for the following classes of financial products: Interests in Managed Investment Schemes including Investor Directed Portfolio services; and· Securities. 2. Deal in a financial product to retail and wholesale clients by applying for, acquiring, varying or disposing of a financial product on behalf of another person in respect of the following classes of products: Interests in Managed Investment Schemes including Investor Directed Portfolio services; and Securities. The EQS IPO Prospectus dated 4 February 2022 noted that the Company would work to grow the business into new revenue verticals by expanding regulatory licensing in Australia and the United States. This Australian licensing expansion now provides the Company with options to deliver extra revenue verticals as outlined in the Prospectus including, but not limited to: Deploying a charting and/or trading execution platform; Providing direct access to on-market ASX equity placements, IPOs and other capital raising opportunities to Equity Story members; Partnering with complimentary service providers under a revenue share or fee split arrangement to provide expanded service offerings to subscribers;
and Providing general advice on the Company's own Managed Fund offerings. EQS plans to deploy these additional services during FY23.