ASIC doesn’t prescribe compliance infrastructure maturity levels, but expects AFS licensees to maintain compliance systems appropriate to the nature, scale,...
SIC expects self-licensed AFS licensees to maintain compliance infrastructure that is effective, proportionate and actively managed. A self-licensed firm should...
ASIC and AUSTRAC expect an AFS licensee using MDAs to have specific authorisations, supervision, governance, and AML/CTF controls in place....
AFS licensees and authorised advisers remain responsible for AI-generated advice. ASIC expects accountability to remain with the person and licensee...
ASIC and APRA guidance confirm that superannuation trustees are allowed to request client advice documents from advisers for targeted, proportionate...
ASIC expects financial advice businesses and AFS licensees to maintain records that demonstrate how compliance obligations are monitored, supervised, assessed,...
ASIC expects AFS licensees to maintain compliance oversight of all outsourced functions that affect the provision of financial services, compliance...
ASIC expects an AFSL to demonstrate that its compliance framework operates effectively in practice. Preparation should focus on producing clear...
ASIC expects AFS licensees to demonstrate effective supervision through documented oversight, monitoring, review, escalation, and remediation activities. Effective supervision requires...
ASIC expects AFS licensees to conduct annual compliance reviews that assess whether compliance systems, controls, and governance arrangements are operating...