From www.tglaw.com.au: Entities operating under an AFSL must exercise caution when engaging with clients outside Australia, as reverse solicitation does not offer a reliable safe harbour from regulatory scrutiny.

ASIC advises that licensing relief based solely on reverse solicitation is insufficient, raising concerns about investor protection and regulatory compliance.

Firms should implement proactive measures, including thorough jurisdictional assessments and proper documentation, to mitigate legal risks associated with cross-border interactions.