News

ASIC releases first credit guides

4 December, 2009

On 1 December, ASIC released the first of their Regulatory Guides, explaining their approach to regulation under the new National Consumer Credit regime.

Regulatory Guide 202 deals with the registration process, commencing 1 April 2010 and the transition through to credit providers obtaining Australian Credit Licences.Â Regulatory Guide 203 “Do I need a credit licence?” is designed to assist providers in deciding exactly that – whether a licence will be required for the activity that a person (including a business) performs.

ASIC also released Information Sheet 96, which provides a high-level update on the National Consumer Credit regime, outlines the process and milestones towards being licensed and also contains some sensible advice for potential licensees to start getting their house in order now.

AFS Licensees will remember only too well the rush of activity that lead up to the deadline dates for the AML/CTF legislation in 2007 and 2008.Â QED Risk Services strongly encourages credit industry participants to start doing as much preparation work as they possibly can, as soon as they can rather than leave it to the last minute.

See ASIC’s credit webpage for more information and to access the Regulatory Guides.Â Subscribe to QED Risk Services’ RSS feed to stay abreast of all credit licensing developments.

QED Risk Services website launches

20 November, 2009

Welcome to the new QED Risk Services website.Â Please look around the material we have on the website and stay tuned for up to date newsfeeds on all things in the risk and compliance world.

Check back later today for further news updates and how you can use RSS to subscribe to our news feeds.

News
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- QED Risk Services in the news again
  11 April, 2012
  QED Risk Services Director, Greg Ashe, was today asked to provide commentary on ASIC’s revelation last week that it intends to scrutinise the responses that ACL holders provide on their Annual Compliance Certificates – something that QED has been telling the industry for nearly a year. The article highlighted the fact that, without adequate systems in place, Licensees place themselves at risk of breaching (amongst other things) s225 of the NCCP Act.
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- QED Credit Services launched
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  QED Risk Services is saddened to hear of the untimely passing of one of its most colorful clients – John R Hill in Albury
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  26 November, 2010
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  Alternatively, if you want to be a Credit Rep but not of your Aggregator, QED Risk Services is set to gain its own ACL to house such brokers as Credit Reps.
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