Australian Credit Licence CPD for Responsible Managers
Meeting Australian Securities & Investments Commission Requirements
Our Responsible Managers CPD is designed to enable responsible managers of ACL holders to meet their organisational competency requirements for their licence.
ASIC Regulatory Guide 206 Credit licensing – Competence and training stipulates that each holder of an Australian Credit Licence is required to “maintain and update the qualifications and experience of your responsible managers and ensure that your responsible managers undertake at least 20 hours of continuing professional development (CPD) per year”.
ACL Responsible Managers CPD
The responsible managers of each credit licence must keep up to date with credit industry and regulatory developments in order to provide sound leadership for their organisation. ASIC specifies a number of hours of continuing professional development (CPD) per year that responsible managers must undertake. This CPD must relate to credit and compliance issues.
Responsible managers must undertake 20 hours of CPD per year. This may consist of a combination of credit-relevant educational activities.
The CPD should include product and industry developments related to credit as well as compliance training, including training in relation to the new regulatory requirements of the credit regime.