AFSL Compliance

Organisations that wish to provide financial products and services in Australia are generally required to have an Australian Financial Services Licence (AFSL) with the appropriate authorisations. The privilege of holding an AFSL comes with stringent regulatory compliance requirements.

As experienced AFSL compliance providers, we can assist organisations that hold AFSLs with their compliance requirements. The key areas that we can help with include:

Policies and Procedures Drafting

We can assist with the drafting of AFSL compliance policies and procedures, including but not limited to:

  • Appointment, Training, and Termination: Responsible Managers and Representatives
  • Conflict of interest management
  • Breaches and breach reporting
  • Risk management
  • Promotional material compliance review procedures
  • Staff trading policy
  • Dispute resolution
  • Outsourcing
  • Registers

Ongoing AFSL Compliance Solutions

Whether you are looking for an alternative to the traditional in-house compliance function, or you would like to extend your compliance capacity without committing to the hiring and training of more permanent staff, we can design and deliver an AFSL compliance solution that is tailored to your very needs so you can focus on running your business. Examples include:

  • Staff compliance inductions, refreshers and further roles-based training
  • Representatives monitoring and supervision, and reporting to the Compliance Committee and/or the Board of Directors
  • Monthly or quarterly compliance meetings
  • AFSL compliance policy review and updates
  • Liaison with regulators
  • Assisting with the maintenance of AFSL compliance registers

External AFSL Compliance Review

An external AFSL compliance review is a ‘health check’ for the organisation. It involves careful evaluation of the policies and procedures against the regulatory requirements imposed on the licensee, and testing of the licensee’s level of compliance with such documents through sample testing. We add value by identifying gaps and vulnerabilities in your compliance regime and offering practical recommendations that can help you close such gaps or materially reduce your regulatory exposure.

Our Promise

As your AFSL compliance professionals, our promise to you is that any solution we offer will be tailored to the particular circumstances of your business. No two licensees are the same. We look at everything when designing a solution for you, from the scope of your AFSL to the products and services you are authorised to provide, whether you deal with only wholesale clients or both wholesale and retail clients, your business volume, your human and financial resources, the strength and weaknesses of your team, the areas of compliance your team struggle with… everything.

To find out more about our tailored AFSL compliance services, click here to pencil in an obligation-free virtual coffee with our director and founder Xiaoshu Liu.