Compliance Training

ASIC RG104

Meeting ASIC RG104 Australian Financial Services Licence Obligations

Keep your staff up to date with knowledge on compliance matters, and also ensure that you address AFSL ASIC RG104 compliance training and ongoing training requirements for your staff. You can do this via a selection of College qualifications.

Australian College of Commerce and Management was one of the first private Colleges approved in 1996; and continues to specialise in the industry needs for financial services - particular licencing obligations under an Australian Financial Services Licence. 

Our financial materials are updated annually to ensure up to date information on topics such as Privacy, Fraud Detection, AML and Codes of Practice.

Training Solutions for ASIC RG104 CPD Requirements

  • Qualifications Include Compliance

    The College has a range of suitable qualifications that will ensure that you both train your staff; and have formal evidence of compliance training having taken place. 

    Certificate III in Financial Services, for example, can address compliance in: Privacy, Fraud Detection, AML and Codes of Practice.

    Each qualification can be tailored to meet any specific compliance aspects you want addressed.

Why ACCM for ASIC Licencing Training

  • Expertise in ASIC Obligations

    Work with professionals who know your industry and the RG requirements. Obtain certification from an independent nationally recognised Registered Training Organisation and meet record keeping requirements.

    Our finance team are pro-active in staying up to date with regulatory changes and industry compliance needs. We even go as far as referencing the ASIC Regulatory Guide requirements in each of the finance licencing courses we offer – so that you can also understand the exact requirements.

  • Long History with Finance Licencing

    ACCM was one of the first RTOs to be authorised on the ASIC Training Register to deliver finance licencing courses and Tier 2 after the introduction of the Financial Services Reform Act 2001 (FSR Act). We have therefore amassed years of experience and expertise in addressing ASIC Regulatory Guide requirements.

  • Over 25 Years of Quality and Compliance

    ACCM has been around for a long time – being one of the first private RTOs approved in Australia. Our long term clients also show a history of client satisfaction second to none.

    We also have long term contracts across many states allowing us to access subsidised training to reduce the financial burden on clients.

  • Largest Provider in Financial Services

    ACCM has been the largest provider of traineeships in Certificate III in Financial Services in NSW over the past 10 years – by a country mile. Our expertise in finance means that your new staff are able to be offered quality accredited training which can improve productivity as well as meet Tier 2 and compliance obligations.

    We also have long term contracts across many states allowing us to access subsidised training to reduce the financial burden on clients.

Why Employers Choose ACCM

  • Customised Training Development

    ACCM has a long history of working with employers to develop a customised training program that meets training needs and maximises access to subsidised training opportunities.

    Talk to us about your needs and priorities, and your ideal training program.

  • Government Funded Training Contracts

    ACCM is a national provider and has long term contracts across states and territories that support employers with subsidised training options. Let us work our way through the rules and regulations and deliver to you the best outcome.

  • Long Term Client Satisfaction - The Best Evidence of Quality

    The College has a wide range of long term and loyal clients who appreciate the industry expertise, flexibility and quality of the work that we do to deliver traineeships and training to their staff.  

    We excel at understanding the specific needs of each client and so are able to get equally outstanding reviews from employers in different sectors.

    Don’t take our word for it - see the many Client Success Stories for more information.

Frequently Asked Questions About Compliance RG104 Training

  • What are ASIC RG 104 Compliance Training Obligations

    ASIC Regulatory Guide (RG) 104 Licensing: Meeting the general obligations has within in it key requirements about having staff with sufficient skills and ongoing compliance training.

     

    Under RG 104.67 You must: (a) take reasonable steps to ensure that your representatives comply with the financial services laws (s912A(1)(ca)); and (b) if they provide financial services, ensure they are trained and competent to do so (s912A(1)(f)). You must also have measures in place to ensure that you comply with these obligations on an ongoing basis: RG 104.38.

     

    RG 104.77 spells out that ASIC expects you to: (a) identify the knowledge and skills your representatives need to competently provide your financial services; (b) ensure that they have the necessary knowledge and skills; (c) ensure that they undertake continuing training programs to maintain and update their knowledge and skills; and (d) maintain a record of the training they have undertaken (this is required under reg 7.6.04(1)(d)).

     

    In RG 104.82 ASIC address the requirements for those providing other services to retail customers to be that you must still ensure that your representatives providing other services are trained and competent to perform their role and functions. They recommend the requirements of RG146 to be used as a basis.

     

  • ASIC Self-Audit of your Training Obligations

    Appendix 1 of RG104 sets out questions ASIC want you to consider when designing and testing your measures for ensuring you comply with the general obligations. In respect to Compliance Training the key questions are: 
    • How do you identify which of your representatives provide financial services?
    • How do you identify and keep records of the training they complete: see reg 7.6.04(1)(d)? 
    • How do you identify the knowledge and skills they need?
    • How do you ensure they have the necessary knowledge and skills to provide financial services? 
    • How do you ensure that your representatives who provide financial product advice to retail clients meet the training standards in RG 146? 
    • How do you ensure that your representatives who provide financial services maintain and update their knowledge and skills? 
    • Have you determined how much ongoing training they need? 
    • Do you have a regular (e.g. annual) training program for them? Who is responsible for this? 
    • How do you ensure your training program continues to meet the needs of your representatives?

  • What ASIC Regulatory Guide Applied to RG104 Compliance Training

    ASIC Regulatory Guide 104 (RG104) last updated July 2015 applies.

Important Disclaimer

Please note that The College is not able to offer legal advice on what your compliance needs are. This information is provided to assist and should not solely be relied upon when determining how to meet your Australian Financial Services Licence obligations.