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).

Our online 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.

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.

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.

About our course

Our 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.

Program Content

Learning Outcomes

What you will learn

  • What responsible lending provisions are and who they apply to
  • Primary credit provisions in the NCCP Act
  • Key steps in applying responsible lending provisions
  • How to interpret case studies to identify potential conduct risks
  • Suggested best practices credit providers can follow.

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.

Explore our Financial Services CPD

Our short course topics are also included in our annual subscription Financial Services CPD library.

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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.
You can enrol your team either:
  • Easily enrol online (you can add multiple participants to your cart) or
  • Contact us to arrange a quote.
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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.