Conflicts of Interest

What is a Conflict of interest?

ASIC defines a conflict of interest as a situation where any or all of a customer’s interests are inconsistent with or different to any or all of your organisation’s interests. When conflicts arise, they must be managed effectively. By upholding ASIC’s conflicts of interest obligation, workplaces are helping to protect customers and consumers and maintain the integrity of and confidence in the financial markets.

Conflicts of interest can arise in numerous circumstances, including dealings with internal and external stakeholders, offering services to wholesale and retail clients, and providing general or personal advice.

About our Conflicts of interest module

Our Conflicts of Interest module is part of our regulatory compliance and conduct learning. Contextualised for Financial Services and whole of organisation training.

In this module, you’ll learn what conflicts of interest are and how organisations can manage them.

The relevant laws are:

  • Section 912A(1)(aa) of the Corporations Act for Australian Financial Services licensees
  • Section 47(1)(b) of the National Credit Act for Australian Credit licensees

The primary sources of regulatory guidance are:

Depending on your organisation, other regulatory guides might apply:

Program Content

  • What is a conflict of interest?
  • Managing conflicts of interest

Learning Outcomes

  • Name the types of conflicts of interest
  • Know the importance of managing conflicts of interest
  • Identify the different ways that conflicts of interest can be managed.

What you will learn

Who is this course for?

  • Any financial representatives who must be trained to adhere to financial services-specific regulation and industry codes with respect to conduct.

Units of Competency

Pre-requisite

Recognition of Prior Learning

Certification

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Our general corporate compliance training contains a suite of engaging online modules designed to make employees aware of their responsibilities and feel empowered to uphold the conduct and regulatory standards applicable to their organisation. A general compliance module – refers to a corporate e-learning course designed to meet specified organisational, legislative and/or conduct requirements.  

The team at FEP understands that effective compliance training is not just about delivering regulatory content; it's about creating learning that is engaging, relevant and impactful for organisations and their employees. We design training experiences that resonate with individuals, ensuring they gain practical knowledge and skills that are immediately applicable to their roles.
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.

Financial Education Professionals acknowledges the Traditional Owners of Country throughout Australia. We pay our respects to Elders past, present and emerging.