AFSL Responsible Managers – Why Bother with Ongoing Professional Training and Development?

Unlike many other professionals, Responsible Managers (RMs) appointed under an Australian Financial Services Licence (AFSL) are not required by ASIC to complete a minimum number of hours of professional training and development each year. But this doesn’t mean that ongoing professional training and development for RMs is not important. Staying up to date with AFSL requirements and understanding ASIC’s key areas of focus for cultural compliance for this financial year are crucial in the current financial services climate.

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Foreign Bribery: New Draft Bill 2017 (Part One)

The draft Crimes Legislation Amendment (Combatting Corporate Crime) Bill 2017 (‘the new Bill’) is a welcome addition to the existing criminal offences legislation in Australia, in relation to the bribing of foreign officials. This is the first in a series of releases where we comment on, and analyse, the new Bill and its impact on Australian businesses.

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Industry Reactions vs The Treasury’s Opinion

The Treasury has recently published its opinion in relation to the Banking Royal Commission and the apparent misconduct prevailing within the industry. This, paired with ANZ and IOOF confirming the continuance of their grandfathered commission arrangements, certainly shows that the industry is still in disagreement over how it should be acting.

Read More

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AFSL Responsible Managers – Why Bother with Ongoing Professional Training and Development?

AFSL Responsible Managers – Why Bother with Ongoing Professional Training and Development?

Unlike many other professionals, Responsible Managers (RMs) appointed under an Australian Financial Services Licence (AFSL) are not required by ASIC to complete a minimum number of hours of professional training and development each year. But this doesn’t mean that ongoing professional training and development for RMs is not important. Staying up to date with AFSL requirements and understanding ASIC’s key areas of focus for cultural compliance for this financial year are crucial in the current financial services climate.

read more
Foreign Bribery: New Draft Bill 2017 (Part One)

Foreign Bribery: New Draft Bill 2017 (Part One)

The draft Crimes Legislation Amendment (Combatting Corporate Crime) Bill 2017 (‘the new Bill’) is a welcome addition to the existing criminal offences legislation in Australia, in relation to the bribing of foreign officials. This is the first in a series of releases where we comment on, and analyse, the new Bill and its impact on Australian businesses.

read more
Industry Reactions vs The Treasury’s Opinion

Industry Reactions vs The Treasury’s Opinion

The Treasury has recently published its opinion in relation to the Banking Royal Commission and the apparent misconduct prevailing within the industry. This, paired with ANZ and IOOF confirming the continuance of their grandfathered commission arrangements, certainly shows that the industry is still in disagreement over how it should be acting.

read more

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