Why do you need AFSL policies and procedures?

AFSL compliance policies and procedures are more than words on a paper and should represent the risk and compliance framework that the AFSL holder has implemented to ensure it complies with its legal and compliance obligations.

ASIC has warned against the use of template policies and procedures because they are rarely implemented into the AFSL holder’s day-to-day activities.

We regularly audit AFSL policies and procedures to determine:

  • whether they are current and comply with all laws and regulation
  • whether the AFSL holder is actually complying with the policies and procedures
  • how the policies and procedures could be better embedded in the business so that compliant outcomes are achieved automatically

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