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FAQ

What compliance obligations does an AFSL holder have?

AFSL holders must comply with the general obligations set out in section 912A of the Corporations Act. These include maintaining adequate compliance arrangements, ensuring representatives are properly trained and supervised, managing conflicts of interest and maintaining financial resources.

Licensees are also expected to monitor the quality of advice, maintain records, report significant breaches to ASIC, and regularly review their risk management systems.

An increasing number of licensees are using regulatory technology, like [complye], to help them operationalise and manage these obligations.

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