Our CPD seminars are taking place in Sydney on 6 May and Brisbane on 13 May. The seminar will focus on the most important regulatory issues affecting financial services responsible managers today including conduct risk, privacy and credit reporting.

Seats are limited. Book now.

Transition period ends on 30 June 2014
The transition period for responsible managers of credit licensees to hold relevant qualifications ends on 30 June (see ASIC RG206 and PF 224).

Licensees demonstrate organisational competence by having responsible managers with adequate skills and knowledge. In their license application applicants have to identify key people in the organisation whose qualifications and experience ASIC will focus on when assessing organisational competence.

These key people should have a minimum of 2 years relevant problem free experience and hold a credit industry specific qualification to at least Certificate IV or a more general qualification relevant to their role (e.g. University degree).

Responsible managers of providers of “third-party home loan credit assistance” (that is, home loan credit assistance where the credit assistance relates to credit secured by real property and neither the licensee nor its representatives will be the credit provider) must complete a Certificate IV in Finance & Mortgage Broking by 30 June 2014.

They should undertake a minimum 20 hours professional development each calendar year.

Each representative of the licensee that provides third-party home loan credit assistance must have successfully completed a Certificate IV in Finance and Mortgage Broking by 30 June 2014.

ASIC considers 20 hours to be an appropriate suitable minimum number of hours of CPD to undergo each year for representatives who provide home loan credit assistance.