What’s new

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ASIC reissues its AFS Licensee Organisational Capacity Policy

Applies to all AFS Licensees

What’s new?

As part of an update of its policy documentation, ASIC has reissued Policy Statements as Regulatory Guides and in some instances changed the numbering and content of former Policy Statements. For example, Policy Statement 164 Licensing: Organisational Capacities, has been reissued as two new Regulatory Guides.

What does this mean for you?

While the reissue is not a substantial re-write of policy, you will need to update all references in your compliance documents and policy manuals to reflect the changes made by ASIC

What's happened?

The main change of content is that Responsible Officers (ROs) are now known as Responsible Managers (RMs), reflecting that an RM is not necessarily an offier of the company. The policy has been rearranged and renumbered, splitting the licensing requirements as follows:

• RG 104 Licensing: Meeting the General Obligations covers obligations in relation to supervision, risk and compliance
• RG 105 Licensing: Organisation Competence covers the requirements for RMs (previoulsy ROs)

Further information

For further information, or assistance in ensuring that your compliance policies and procedures are up to date, please contact Certainty Compliance at (02) 9238 8091 or enquiries@certaintycompliance.com.au

Copies of RG 104 and 105 can be found on ASICs website.
www.asic.gov.au