Credit Licensing: Competence and Training

Description

Credit licensees and their representatives must comply with the relevant organisational credit licensing, competence and training obligations set out in ASIC regulatory guide 206.

ASIC assess the qualifications and experience of the people who are required to be ‘fit and proper’ to engage in credit activities.

What you need to do to comply will depend on the nature, scale and complexity of your business. However, this guide sets out the minimum expectations for demonstrating organisational competence.

ASIC generally expects you to determine what is appropriate (initial and ongoing) training for you and your representatives, and to embed this in your recruitment and training systems.

Estimated Time To Complete

Learning objectives

By the end of this course, learners will be able to

• Assess their compliance with RG 206 obligations.
• Understand their minimum expectations for demonstrating organisational competence.
• Determine what is appropriate initial and ongoing training for your representatives.