ASIC RG 104: Licensing: Meeting the General Obligations

By : 6clicks
This is a guide for AFS licensees and licence applicants. This guide describes what ASIC look for when they assess compliance with most of the general obligations under s912A(1) of the Corporations Act.
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Australian financial services (AFS) licensees must comply with the general obligations under s912A(1) and licence applicants must be able to demonstrate in their licence application that they can comply with them: see RG 104.2–RG 104.9. As an AFS licensee or licence applicant, you are responsible for deciding how to comply with the general obligations: see RG 104.11–RG 104.13. Some general conduct obligations are also civil penalty provisions: see RG 104.3–RG 104.5.

To help you comply, this regulatory guide:

  • outlines key compliance concepts that apply to all of the general obligations (see Section B);
  • describes what we look for when we assess compliance with various general obligations (see Sections C–F); and
  • includes questions to help you design and test your measures for complying with the general obligations (see Table 2–Table 5 in the appendix)

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Jurisdiction Australia
Type Laws or related obligations