Introduction to financial services regulation (Polar993)

Learn the essentials of financial services law and regulation

The financial services industry plays a critical role in society, both through its contribution to the efficient and effective functioning of the economy and through its impact on the lives of individuals. Consequently, the industry is highly regulated.

The broad objectives of the regulatory framework are to:

  • Protect the rights of consumers
  • Maintain confidence in the integrity of the markets
  • Reduce the risk of systemic failure.

Regulation is an essential part of a well-functioning financial services sector. It minimises uncertainties and risks, promotes fair and informed economic activity, and provides a measure of predictability and consistency for participants, issuers, investors and consumers.

The purpose of a regulated financial market is to promote the most efficient and cost-effective financial services for users, ensuring a market that is stable, fair, resilient and adaptable.

Regulatory compliance and conduct learning

Our General Corporate Compliance modules are designed for enterprise-wide training, offering bite-sized modules (30-45 minutes), the perfect study duration, balancing convenience with learning. Contextualised specifically for Financial Services.

You may also like our comprehensive course Regulation of Australian Financial Services.

About our Introduction to financial services module

It is important that you understand the regulation of the industry in which you work. This topic takes you through financial services law and licensing. Where elements may not be applicable to your or your firm’s activities, the information provides valuable context for its dealings with firms that may need to comply with them.

The primary laws and regulations referenced in this module are:

  • Corporations Act
  • ASIC Act
  • AML/CTF Act
  • Privacy Act
  • Competition and Consumer Act
  • Scams prevention framework (SPF)

Why regulate financial markets?

The government aims to promote the most efficient and cost-effective financial services for users, consistent with financial market stability, prudence, integrity and fairness. It aims to ensure that financial system providers are able to develop technology, services and markets and that the financial system regulatory regime is adaptable to such innovations.

Program Content

  • Financial services regulation
  • Evolution of financial regulation in Australia
  • Licensing
  • Differentiating between wholesale and retail clients
  • Conduct and disclosure obligations
  • Snapshot of Australian Consumer Law
  • Industry Codes of Practice
  • Legal principles applying to financial services participants
  • Compliance and ethics
  • Complaints resolution procedures

Learning Outcomes

  • Explain why the financial services industry is regulated in Australia
  • Outline who regulates the different parts of the financial services industry
  • Describe the approach to financial services licensing in Australia, including the different types of financial services activities that are licensed
  • Differentiate conduct and disclosure obligations based on type of product, nature of advice, and category of client
  • Adhere to cross-industry laws that apply to financial services, such as Australian Consumer Law, privacy and information security, and anti-money laundering
  • Discuss how industry codes, ethical principles, and compliance culture influence sound decision-making and lead to good customer outcomes.

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

Explore our General Compliance Training

A simple enterprise-wide solution for a complex world of regulation.

Frequently Asked Questions

The general corporate compliance suite is a curated library of engaging online modules designed to help employees across your organisation understand their responsibilities and feel equipped to uphold the regulatory and conduct standards that apply to their role. Developed specifically for the Australian financial services sector, each module is instructionally designed for maximum engagement and knowledge retention.  

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 will I learn in this workshop?2026-07-15T18:59:10+10:00

The workshop combines regulatory updates with practical compliance guidance, helping Responsible Managers better understand their obligations and strengthen their governance framework.

Topics include:

Credit regulation and licensing

Understand the current regulatory framework governing Australian Credit Licensees and ASIC’s expectations of Responsible Managers.

The role and responsibilities of a Responsible Manager

Explore what ASIC expects Responsible Managers to do in practice and how to effectively discharge your responsibilities.

Regulatory priorities

Understand the emerging issues and compliance risks currently attracting regulatory attention.

Recent ASIC regulatory outcomes

Review recent enforcement actions and regulatory outcomes with a focus on the role Responsible Managers played – and the lessons every licensee should learn.

Accountability and governance

Strengthen your oversight, governance and compliance framework through practical examples and proven approaches.

Managing your ongoing obligations

Learn practical tips for staying across your obligations, maintaining effective records and meeting your reporting responsibilities.

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