This topic refreshes your knowledge of what information licensees need so they can recognise specific elements that constitute a breach, or likely breach. Each breach, or likely breach, needs to be treated on a case-by-case basis, and licensees need to take into account the circumstances to determine whether the breach is significant and thus reportable.
Licensees must take into consideration matters such as the impact on its ability to continue providing financial services, as well as whether its current arrangements are adequate to ensure ongoing compliance with its obligations.
In this course you will learn to:
- Identify, with respect to a licensee’s obligation, what constitutes a breach, or likely breach, of its legislative requirements
- Explain the characteristics that determine whether a breach, or likely breach, is significant.
- Outline the process of recording a breach, or likely breach, in the records of a licensee
- Demonstrate the process of reporting a breach, or likely breach, to ASIC
- Discuss how ASIC evaluates reported breaches and how it determines which items to investigate further
- Examine ASIC’s expectations regarding breach management.
Our learning management system provides you and your organisation all the usual features you’ve come to expect – an intuitive interface, reliable access to content, and insightful reporting.
Each CPD course has specific learning outcomes, reflections and extra resources and activities, and is assessed via a short online multiple choice quiz. You have 8 weeks to complete the course.