If ASIC were to review your business today, the issue would not be effort. It would be evidence.
Your responses indicate that there are likely gaps between how your compliance framework is designed and what can be consistently demonstrated in practice.
This is where exposure typically arises.
Under ASIC scrutiny, businesses are not assessed on intention or documentation alone. They are assessed on whether they can clearly evidence that systems are operating as intended.
Where this breaks down, it usually occurs in one of three areas:
- Advice files do not consistently support the recommendations provided
- Documented processes are not applied in practice
- Reviews are outdated or not aligned to current expectations
These gaps are rarely visible internally until they are tested.
In practice, this typically becomes visible during file reviews, surveillance activity, or breach assessment.
What this means for you
If you cannot clearly demonstrate your position today, your exposure is already present.
This does not usually reflect a lack of effort. It reflects misalignment between systems, behaviour, and evidence.
Fix your exposure now
If your position would not hold up under review, this should be addressed immediately.