AFSL Compliance Archives

Your obligations relating to cybersecurity

By Matthew Farley July 27, 2022AFSL Compliance, Risk Management, UncategorizedNo Comments

Recently, the Federal Court considered the cybersecurity obligations of AFSLs and their authorised representatives. Currently, under s912A of the Corporations Act 2001 (Corps Act), an AFSL has certain core obligations.…

Licensing Fees – Are you receiving service?

By Matthew Farley July 7, 2022AFSL Compliance, Risk ManagementNo Comments

We all know that one of the findings of the Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry was the prolific nature of receiving fees from…

Tips for using social media

By Matthew Farley June 16, 2022AFSL Compliance, Risk ManagementNo Comments

Just as our clients engage us for advice and guidance on regulatory matters, so do we engage with experts in certain fields. One such field is digital marketing.

How to minimise the costs associated with complaints management

By Matthew Farley May 30, 2022AFSL Compliance, Complaints ManagementNo Comments

With experience in managing in excess of 2,500 client complaints, our clients often ask our advice on how to address complaint responses. Recently, the Australian Financial Complaints Authority, AFCA, released…

Trouble the comfortable and comfort the troubled

By Matthew Farley November 13, 2021AFSL Compliance, Financial Planning, Risk ManagementNo Comments

“The interesting thing about coaching is that you have to trouble the comfortable and comfort the troubled.” - Ric Charlesworth Before I started my financial services career, I did as…

What is an Investigation?

By Matthew Farley September 9, 2021AFSL Compliance, Breach Management, Financial Planning, Risk ManagementNo Comments

As the new breach reporting obligations are about to commence from 1 October 2021, ASIC has provided an explanation of what constitutes an investigation into a possible breach and what…

If you see something, say something

By Matthew Farley July 20, 2021AFSL Compliance, Breach Management, Financial Planning, Risk ManagementNo Comments

Most of us have heard this phrase before. It has generally been used in the US regarding recognising behaviours and indicators of terrorism and terrorism-related crime. So why would I…

To Breach or Not to Breach – That is the Question?

By Matthew Farley July 15, 2021AFSL Compliance, Breach Management, Financial Planning, Risk ManagementNo Comments

As an outcome to the Hayne Royal Commission, current breach reporting requirements have been strengthened and have also been introduced for credit licensees. Up until the 1st of October 2021,…

New Financial Year, New Changes

By Matthew Farley June 30, 2021AFSL ComplianceNo Comments

With the new financial year commencing, there are a raft of changes that your business needs to ensure it has in place to meet legislative requirements. From changes to Fee…

Targeting your advice

By Matthew Farley July 29, 2020AFSL ComplianceNo Comments

Originally published | 6th July 2016

There are lots of phrases and terms that are used in financial planning that can not only confuse a client but can confuse advisers as well.

One of those is scope.