RG 105

RG 105 is a regulatory guide issued by the Australian Securities and Investments Commission (ASIC) to aid AFS licensees and applicants in understanding and meeting the 'organisational competence obligation'. This obligation, as specified under section 912A(1) of the Corporations Act, mandates that licensees ensure their organization has the necessary competence to provide financial services efficiently, honestly, and fairly. The guide discusses factors such as the qualifications, experience, and ongoing development of responsible managers, as well as the systems and processes that support organisational competence. By adhering to this guide, licensees can ensure they meet regulatory expectations and maintain the integrity of their financial services.