Licensees can get started with Assured Support by discussing their business model, compliance framework, operational risks, and regulatory obligations with a compliance specialist. Assured Support assists AFS licensees and ACL holders establish, improve, and manage compliance systems, governance arrangements, monitoring processes, and risk management frameworks aligned with ASIC expectations and operational realities.
Expanded Answer
Assured Support works with AFS licensees, ACL holders, advisers, and compliance teams across a range of regulatory, governance, and operational matters. Engagements may involve compliance reviews, monitoring programs, breach reporting processes, governance frameworks, risk management systems, adviser supervision, AFSL or ACL applications, remediation support, policy development, and technology-enabled compliance solutions.
The initial process generally involves understanding the licensee’s authorisations, business structure, service model, client base, operational risks, and existing compliance arrangements. Appropriate compliance systems and governance controls depend heavily on the scale of operations, outsourcing arrangements, advice models, product offerings, technology usage, and regulatory exposure relevant to the business.
ASIC expects licensees to maintain compliance arrangements that are practical, effective, scalable, and capable of identifying and managing risk on an ongoing basis. For that reason, compliance support is typically more effective when aligned closely to the specific operational realities and strategic objectives of the licensee. See also What does a defensible compliance framework look like for AFSL and credit licensees? and The future of regulatory compliance.
Why it matters
Licensees remain responsible for maintaining effective compliance systems, governance arrangements, and risk management processes under Australian financial services and credit licensing obligations. Weak onboarding, fragmented controls, or poorly aligned compliance frameworks can increase operational risk, regulatory scrutiny, remediation costs, and conduct failures.
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Practical guidance
- Identify the key compliance, governance, operational, or regulatory challenges affecting your business
- Review whether existing compliance systems and monitoring arrangements remain appropriate for your current business model and risks
- Prepare details about your authorisations, service structure, advisers, representatives, and operational processes before an initial consultation