I Need To Be Confident I Am Compliant

There are too many compliance boxes to tick, and I just don’t understand where to start…”

What action have you taken this year to ensure you meet your ACL obligations?
Do you have written policies and procedures in place for compliaance obligations?
Do you audit themselves against these general conduct obligations?

Compliance. It’s the word on every broker’s lips since the introduction of the National Consumer Credit Protection Act (NCCP) in 2010. Designed to ensure ethical and professional standards in the financial industry, NCCP’s legislation has left many brokers feeling unsure or overwhelmed. With the Australian Security & Investment Commission (ASIC) actively pursuing surveillance and enforcement actions on newly-licenced brokers, the industry is looking for guidance to maintain and defend compliance in your business.

Your aggregator should be key in communicating ASIC legislation updates to you, its member brokers. If you are not receiving regular updates from your aggregator, at least monthly, then there is a chance you are missing information.  Aggregators who are serious about assisting you in your compliance should have a dedicated Compliance Support Team.

Does yours?