Responsible Manager Training
Our Responsible Manager Training is best in class – as evidenced by the fact we have trained thousands of licensee RMs across all industry sectors, including advice licensees and all of Australia’s largest banks – and even Australian regulators – on Responsible Manager and related obligations. Sign up for our next public Responsible Manager Training Course.
We have been training Responsible Managers of Australian Financial Services Licensees (AFSLs) and Australian Credit Licensees (ACLs) since 2003. We provide training that caters for those who are new to the Responsible Manager role, as well as Responsible Managers who are experienced and have been in the role for many years.
Our Responsible Manager Training workshop has been designed to provide Responsible Managers and compliance staff with an overview of the role of the Responsible Manager. Some of the topics covered in this course are:
- Duties and responsibilities of a Responsible Manager
- Understanding the AFSL authorisations
- Breach identification, assessment and reporting
- Handling AFCA complaints
- ASIC’s role and recent regulatory action
- Online re-enactment of a Responsible Manager who was banned by ASIC for 6 years
If you’ve wondered whether or not you really need to do Responsible Manager training, read our article here.
Our Experience and Expertise with Responsible Managers
Our Licensing Team is headed by ex-ASIC manager, Frank Varga, who has over 30 years’ experience in analytical and senior management roles at ASIC, including overseeing the Licensing Team at ASIC for the final 15 years of his time there.
We work with Responsible Managers in the financial services and credit industries on a daily basis and have a good understanding of what it means to be a Responsible Manager.
We’ve also helped many Licensees vary their licence to add Responsible Managers or remove the Key Person Condition.
Compliance Support for Responsible Managers
We support Responsible Managers of AFSLs and ACLs through our online compliance portal, the HN Hub. The HN Hub is used by hundreds of Responsible Managers and compliance staff as it is a one-stop-shop for all their training, documents, and compliance needs. The HN Hub offers the following:
- Responsible Manager training
- Industry Compliance Forums for different industry groups (Advice Licensees, Payments Businesses/Money Remitters, CFD Providers, Consumer Credit Licensees)
- Regulatory updates and alerts
- Licensee compliance documents and policy templates, such as the Compliance Manual
We also offer consulting services under our compliance brand, Holley Nethercote Compliance. Our consultants can help you:
- Determine whether or not your nominated Responsible Manager would be suitable for your licence application
- Assist with varying your licence application to add a Responsible Manager or remove the Key Person Condition
- Assist with preparing proofs as outlined in ASIC RG 105 for the AFSL application or ASIC RG 206 for the ACL application
Legal Services for Responsible Managers
On top of our compliance support offerings through our HN Hub, we also provide legal services for Responsible Managers and Licensees through our law firm, Holley Nethercote Lawyers (liability limited by a scheme approved under Professional Standards Legislation).
Some of these legal services include:
- Assistance with regulatory action
- Credit assistance with the National Consumer Credit Protection Act, National Credit Code, ASIC Act and other regulatory obligations advice
- Preparing, amending, interpreting and advising on Authorised Representative agreements and Responsible Manager agreements
- Financial crime including AML/CTF
- Developing and advising on corporate governance structures
- Designing or providing legal “sign off” on Credit Guides, Financial Services Guides and other disclosure documents
- Attendance at compliance committee meetings
- Other business law services
Resources for Responsible Managers
- I’m a Responsible Manager, what does this mean?
- Who’s responsible when things go wrong? Liability of a Responsible Manager
- Responsible Managers and the Key Person Condition
- Do I really need to do Responsible Manager Training?
- How to be a Responsible Manager – Competence & Responsibilities
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