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An AFSL should manage regulatory change end to end: identify and assess the change, allocate ownership, update affected obligations and...
No single prescribed list of registers applies to every AFSL. The required registers depend on the licensee’s business, services and...
An AFSL compliance calendar should convert recurring obligations into scheduled, owned and evidenced activities. It should cover lodgements, review cycles,...
An AFSL obligations register should map each applicable obligation to its source, accountable owner, controls, evidence, review cycle and reporting...
An AFSL should oversee outsourced service providers in proportion to the materiality and risk of the outsourced function. The licensee...
Yes. An AFS licensee can outsource compliance activities and expertise, but it can’t outsource its statutory accountability under s 912A....
ASIC doesn’t prescribe a fixed frequency for reviewing an AFSL compliance framework. The obligation under s 912A is continuous, so...
An independent AFSL Review should test whether the licensee’s compliance framework is appropriately designed, implemented and operating effectively under s...
An AFSL Review and an AFSL Health Check serve different assurance purposes. An AFSL Review is a formal, evidence-based assessment...