AFSL Responsible Manager CPD

About our AFSL Responsible Manager CPD

Our AFSL Responsible Manager CPD is an essential update for Responsible Managers and Governance, Risk and Compliance Leaders. AFS Licensees must ensure that the appointed responsible manager undertakes appropriate training on an ongoing basis to ensure that their skills, knowledge and competencies remain up to date.

ASIC Regulatory Guide 105 provides detailed information about the requirements of responsible managers. (RG 105.10)

ASIC doesn’t specify how many CPD hours are required for Responsible Managers of AFS licensees.

However, the CPD must be ‘adequate’ and assist a responsible manager to:

  • maintain knowledge and skills that are appropriate for their activities and responsibilities, and are consistent with any applicable training standards
  • update their knowledge and skills, especially in areas where there is continual change
  • develop new knowledge and skills to assist with their current role or roles contemplated in the near future.

Our responsible manager CPD awards 15 hours/points. This affords licensees flexibility to make up the balance of the widely accepted industry standard of 20 hours via other activities, such as industry reading, inhouse training, and industry event attendance.

View our course brochure

 

About our course

In the current climate, with ASIC and APRA joining forces to co-regulate and reinforce compliance, conduct and ethics, there’s not just more of it; it’s also getting broader and more prescriptive. As the person that a licensee relies on to ensure their organisation is meeting its general obligations, it is crucial that a responsible manager feels well-equipped to perform at their best.

Our AFSL Responsible Manager CPD, released annually each year;

  • Contains five topics in alignment with what the regulators are prioritising
  • Earns 15 CPD hours/points (3 CPD points per topic).
  • Topics are separately assessed so can be studied one at a time, across the year.
  • Assessment is via a multiple-choice quiz for each topic.

2024 AFSL RM CPD Program

Roles and responsibilities of responsible managers

  • General obligations of AFS licensees
  • ASIC’s expectations regarding the conduct of responsible managers
  • How BEAR and FAR interact with ASIC licensing
  • Tips for performing the RM role effectively.

Key obligations in practice

  • Managing breach reporting (RG 78)
  • Controlling, avoiding, and disclosing conflicts of interest (RG 181)
  • Implementing effective complaints handling and dispute resolution (RG 271)
  • Meeting Design and Distribution Obligations (RG 274).

Ethical data management

  • Principles of ethical data management
  • Regulatory and marketplace drivers of ethics in data security and cyber resilience
  • Data management case studies, including emerging areas such as AI

Regulator priorities and enforcement activity

  • How financial services regulators approach enforcing laws and regulations they supervise
  • Key focus areas of regulator projects over the next year, including cyber and operational resilience, sustainable finance, digital technology and data, and financial fraud and scams
  • Insights for licensees in recent enforcement cases.

Fostering a sound conduct risk culture

  • How ethical principles are enshrined in financial services law
  • Regulator’s thought leadership on risk culture and conduct
  • Financial services conduct risk case studies
  • Reasonable steps licensees should take to identify and manage conduct risk

Program Content

Learning Outcomes

What you will learn

Who is this course for?

  • Accountable persons of APRA-regulated entities
  • Company Directors
  • Compliance personnel and consultants
  • Financial Planning Practice Manager
  • Legal and corporate advisory professionals
  • Responsible Managers
  • Risk and Compliance leaders
  • Senior Managers

Units of Competency

Pre-requisite

Recognition of Prior Learning

Certification

Upon successful completion, you will be awarded a Certificate of Attainment confirming you have achieved 15 CPD hours/points.

Our CPD is mapped to ASIC RG105, FASEA and APRA CPS 520-fit and proper categories.

 

 

Explore our Responsible Manager CPD

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Frequently Asked Questions

RG 105 AFS licensing: Organisational competence is a guide for Australian financial services (AFS) licensees and AFS licence applicants.

This guide describes what ASIC looks for when assessing compliance with the ‘organisational competence obligation’, which is one of the general obligations under s912A(1) of the Corporations Act.

 
Our CPD program is an essential annual update for responsible managers and governance, risk and compliance leaders.
  • Released annual each year (January - December)
  • Contains five topics in alignment with what the regulators are prioritising
  • Earns 15 CPD hours/points (3 CPD points per topic).
  • Topics are separately assessed so can be studied one at a time, across the year.
  • Assessment is via a multiple-choice quiz for each topic.
 
Responsible Managers are the people that a licensee appoints to demonstrate to ASIC that it has the knowledge, skills and experience required to provide the financial services it is authorised to on its Australian Financial Services licence (AFSL). For information on relevant legislation and important information surrounding your licensing obligations please refer to ASIC’s Regulatory Index. Are you applying for an AFS Licence? Refer to ASICs AFS Licensing Kit for your obligations.
We see Compliance Consultants as essential to good customer outcomes. Self-licensing is on the rise, ASIC is increasing scrutiny of regulated entities, and numerous legislative changes and other reforms are prompting all manner of financial services firms to seek the assistance of a Compliance Consultant. Please visit our Compliance Consultants directory.
You can enrol your team either:
  • Easily enrol online (you can add multiple participants to your cart) or
  • Contact us to arrange a quote.
ASIC doesn’t specify how many CPD hours are required for Responsible Managers of AFS licensees. However, the CPD must be ‘adequate’ and assist a responsible manager to:
  • maintain knowledge and skills that are appropriate for their activities and responsibilities, and are consistent with any applicable training standards
  • update their knowledge and skills, especially in areas where there is continual change
  • develop new knowledge and skills to assist with their current role or roles contemplated in the near future.
Our AFSL Responsible Manager CPD awards 15 hours/points. This affords licensees flexibility to make up the balance of the widely accepted industry standard of 20 hours via other activities, such as industry reading, inhouse training, and industry event attendance.
What is RG206?2023-04-21T07:53:53+10:00

Regulatory Guide 206 Credit licensing: Competence and training (RG 206)

Credit licensees must comply with the organisational competence obligation in s47(1)(f) of the National Consumer Credit protection Act 2009 (National Credit Act)Regulatory Guide 206 Credit licensing: Competence and training (RG 206) sets out the minimum expectations for demonstrating organisational competence.

What you need to do to comply will depend on the nature, scale and complexity of your business. However, Regulatory Guide 206 Credit licensing: Competence and training (RG 206) sets out our minimum expectations for demonstrating organisational competence.

You must also ensure that your representatives are adequately trained and competent to engage in the credit activities authorised by your licence: s47(1)(g).

ASIC generally expects you to determine what is appropriate initial and ongoing training for your representatives and to embed this in your recruitment and training systems.

Updated annually, our CPD is designed to enable Responsible Managers and Representatives of Australian Credit Licensees to meet their mandatory RG206 continuing training requirement. Our CPD that is structured, properly assessed and recorded.