GRCGuideline

RG 205

Regulatory Guide 205: Credit Licensing: General Conduct Obligations

RG 205 is a regulatory guide issued by ASIC detailing the general conduct obligations for credit licensees, license applicants, and unlicensed carried-over instrument lenders. It helps entities comply with the National Credit Act and outlines specific areas of focus during compliance assessments.

Overview

RG 205 provides detailed guidance to credit licensees, applicants, and unlicensed COI lenders on meeting their general conduct obligations under Section 47(1) of the National Credit Act. It explains how ASIC assesses compliance and highlights obligations such as engaging in honest and fair practices, maintaining adequate resources, and ensuring responsible lending practices. Some obligations are covered in separate regulatory guides, referenced in the document. This guide helps entities understand compliance requirements and navigate regulatory oversight more effectively.

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