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FAQ

What are the AFSL breach reporting requirements?

AFSL holders must report certain significant breaches or likely breaches to ASIC under the reportable situations regime in the Corporations Act.

ASIC Regulatory Guide 78 explains how incidents should be assessed and reported. Licensees usually maintain breach registers and incident assessment processes to determine whether reporting thresholds are met.

Compliance systems such as [complye] can help licensees maintain breach registers and track reportable situations.

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