Skill

legalcode-au-asic-regulatory-compliance

Assess compliance with the Australian Securities and Investments Commission (ASIC) regulatory framework. Covers all major ASIC-regulated obligations: Australian Financial Services Licence (AFSL) general obligations under s 912A Corporations Act 2001 (Cth) (efficient/honest/fair, risk management, conflicts of interest, responsible managers, financial resources, professional indemnity insurance); responsible lending conduct under the National Consumer Credit Protection Act 2009 (Cth) including unsuitable credit assessment, BNPL reforms effective 10 June 2025, and hardship obligations; Design and Distribution Obligations (DDO) under Part 7.8A — target market determinations, distribution conditions, significant dealing notifications, and review triggers; Internal Dispute Resolution (IDR) under ASIC RG 271 — complaint timeframes (30/21/45 days), written IDR responses, complaints register, AFCA referral obligations, and biannual IDR data reporting; breach reporting under s 912DAA — reportable situations, 30-day lodgement, significant breach thresholds, and the 2023 modification for repeat circumstances; market integrity rules — continuous disclosure (Part 6CA), insider trading (Part 7.10), and manipulation; sustainability/climate reporting obligations (mandatory from 1 July 2026 for large entities); and ASIC enforcement risk profiling (2024–2025 priorities: greenwashing, DDO, predatory lending, financial hardship, cyber security). Generates COMPLIANT / PARTIAL / NON-COMPLIANT findings with CRITICAL / HIGH / MEDIUM / LOW risk tiers, clause-level remediation language, penalty exposure estimates, and a prioritised compliance roadmap. Use when auditing AFS licensees, credit licensees, responsible entities, managed investment scheme operators, securities dealers, superannuation trustees, financial advisers, insurance providers, BNPL providers, or any entity regulated by ASIC under the Corporations Act 2001, ASIC Act 2001, or NCCP Act 2009. Jurisdiction: Australia (Commonwealth — federal). Enforced by ASIC, AFCA (EDR), and the Financial Services and Credit Panel (adviser disciplinary body).