Tier 2 RG 146 Deposit Products & Non-Cash Payment Products is designed for individuals or corporate organisations seeking RG 146 compliance to provide general advice in the Tier 2 financial product area of Deposit products and non-cash payment products.
Deposit Products and Non-Cash Payments examines the common functions of money and how regulation of Australia’s banks and payment system is shared between ASIC, APRA and the Reserve Bank of Australia (RBA). We outline common characteristics of deposit products and look at the difference between deposits and comparable investment products such as cash management trusts.
- Deposit Products and interest rates
- Non-cash payment products
- Legal environment – disclosure and compliance
- Outline the common functions of money
- Describe the concept of interest and differentiate between simple interest and compound interest
- Discuss how Australia’s banks and the payment system are regulated to achieve a high level of consumer protection
- Examine the features and characteristics of non-cash payment facilities that led to them being defined as financial products and therefore saw them fall under ASIC’s regulatory oversight.
This program is suitable for:
- product developers
- solution distributors
- frontline branch and call centre staff
- and financial advisers.