Following the recent incidents involving financial advisers in the CBA and Macquarie groups and the Senate Committee reports on financial advice ASIC has focussed on the timeliness of AFSL breach reporting (Background).

In a new CPD video (1 hour, 10 minutes) I discuss breach reporting in the context of an AFS licensee’s compliance and risk framework and when a breach report to ASIC must be made.

You can watch it on my website as a stand alone video (here) or as part of the Compliance for Responsible Managers course here.

I have also updated my Responsible Managers’ Manual which you can get here or as part of the Compliance for Responsible Managers course here.

This manual (143 pages, PDF) sets out the responsibilities of responsible managers of Australian Financial Services Licensees and Australian Credit Licensees.