The NCCP Act and Responsible Lending RG209

The NCCP Act and Responsible Lending RG209

Credit licensees must comply with the responsible lending conduct obligations of the National Consumer Credit Protection Act 2009 (Cth) (National Credit Act).

Being compliant is about more than minimising potential conduct risks for credit providers. Following consumer credit requirements can also involve organisational process improvements that better inform and assist clients in making major financial decisions.

RG209 sets out ASIC’s views on what the responsible lending obligations in Ch 3 of the National Consumer Credit Protection Act 2009 (National Credit Act) require, and steps you can take to minimise the risk of non-compliance with these obligations.

About our course

Our online course, NCCP Act and Responsible Lending Course, takes a deep dive into the NCCP Act, covering responsible lending and other provisions, and obligations in consumer credit regulation and ASIC’s RG 209.

We clarifies the who, what, and why of this aspect of credit law, so you can assist your practice to comply with its obligations.

This year’s edition includes a lesson dedicated to the modified responsible lending obligations that apply to buy now pay later (BNPL) contracts, which have been newly regulated as low cost credit contracts (LCCCs).

Earn 4 CPD Points while gaining valuable industry skills and insights: Our NCCP Act and Responsible Lending RG209 course is allocated CPD points by the MFAA and FBAA.

You may also like our Credit CPD for Representatives or Responsible Managers.

What is responsible lending?

The objective of the responsible lending obligations is to ensure that credit licensees do not suggest, assist with, or provide a credit contract or consumer lease to a consumer that is unsuitable for the consumer. Credit licensees must have adequate processes and procedures in place to ensure that they meet the responsible lending obligations.

Program Content

  • What is responsible lending?
  • Application of responsible lending provisions
  • Obligations to provide documents
  • Regulation and licensing of buy now pay later contracts
  • Summary of lending obligations across loan cycle

Learning Outcomes

  • Primary credit provisions in the National Consumer Credit Protection Act (NCCP Act)
  • What responsible lending is
  • Who responsible lending provisions apply to
  • Key aspects of provisions for buy now pay later lending, being newly regulated as low cost credit contracts
  • Processes you can follow to comply with responsible lending obligations.

What you will learn

Who is this course for?

  • Credit licensees
  • Finance and mortgage brokers
  • Bank and non-bank lenders

Units of Competency

Pre-requisite

Recognition of Prior Learning

Certification

You will be awarded a Certificate of Completion. It will be available online for you to download and print immediately.

Earn 4 CPD Points while gaining valuable industry skills and insights.
Our NCCP Act and Responsible Lending RG209 course is allocated CPD points by the MFAA and FBAA.

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Frequently Asked Questions

RG 209 Credit licensing: Responsible lending conduct is a guide for credit licensees and credit applicants. It sets out ASIC’s views on what the responsible lending obligations in Ch 3 of the National Consumer Credit Protection Act 2009 (National Credit Act) require, and steps you can take to minimise the risk of non-compliance with these obligations. Our RG206 Credit and Mortgage Broking CPD for Responsible Managers is designed to meet ASIC’s RG206 regulatory compliance requirements and empower mortgage and credit professionals to do better business.

Credit licensees must comply with certain responsible lending obligations. The key concept of these obligations is that credit licensees must not enter into or assist a consumer with a credit product that is unsuitable for them. RG209 sets out ASIC’s views on what the obligations require and steps you can take to minimise the risk of non-compliance. This section of the guide outlines the responsible lending obligations and gives an overview of our guidance. It also explains what kinds of lending and credit activities are not covered by the responsible lending obligations. Our The NCCP Act and Responsible Lending Course clarifies the who, what, and why of this aspect of credit law, so you can assist your practice to comply with its obligations.  

Our CPD short courses are self-paced with online learning resources & on-going support.
  • You have up to 8 weeks to complete the learning and assessment requirements for your CPD short course.
  • Experienced professionals can complete in less time.

Our CPD short courses are assessed by a short open book multiple-choice exam.

To get started, either:
  • Purchase course/s online. (You can add multiple courses to the cart.) Please note: Online orders may take up to 1 business day to be processed and for your team to receive their course login details.
OR
Contact us for your Corporate Solution.

To get started, either
  • Purchase your course online. (If checking out for your team, you can add multiple courses to the cart.) OR
  • Contact Us to arrange an invoice
Please note: Online orders may take up to 1 business day to be processed and for you to receive your course login details.  
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.

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