Option 2: Individual Assessment
Are you being nominated as a Responsible Manager under your AFSL? Do you have five years relevant experience within the past eight years?
Under RG105 Responsible Manager Nomination Option 2, ASIC requires that nominated Responsible Managers be individually assessed by an authorised assessor as having relevant knowledge equivalent to a diploma. This means assessment of a person’s capability to undertake their current duties, taking into account their previous work experience.
This assessment is conducted by interview. Before the interview you will receive a briefing document which sets the context for the assessment and details the issues which will be covered.
As this assessment is conducted within the context of the business and the team of Responsible Managers, we require the following documentation.
- Business Description (A5) core proof for the licence
- ASIC authorisations under the licence
- Organisational Competence (B1) core proof. If this is not available, then a detailed CV of each person who is seeking to become a RM
On receipt of the documentation, we provide a Proposal detailing the process, timeframe and fees.
On successful completion of the assessment, you will receive a Certificate of Attainment confirming that you have satisfied, via Option 2 in RG105, the requirements in respect of the financial services detailed in your AFS licence.
What is an Individual Assessment?
Individual assessment means an assessment of a person’s capability to undertake their current duties, taking into account their previous work experience. Individual assessment must be carried out by an authorised assessor.
For further information please contact Financial Education Professionals.