AFSL Applications and Variations
Applying for an Australian Financial Services Licence will be a quantum leap for many. Before you get started, you should know if this is right for you.
Our services include:
- Sitting down with you to help you understand:
– whether it is right for you;
– what you need to do; and
– how you should do it. - Leading and managing the application process for you with ASIC.
- Helping you get set up so you can focus on the ‘business side’ of your business.
Integrity Compliance can work with you on a range of compliance projects.
Our services include:
- Leading licensee policy and process reviews
- Leading and managing client review / remediation programs
- Leading advice pre-vet programs
- Leading business acquisition due diligence
- Designing compliance matrices and frameworks specific to your business
Compliance Projects
Incident Management
Incidents often happen when you least expect them to.
The key is being able to manage it and not let it grind your business to a halt. We have run multiple ASIC engagement projects - remediation, ongoing monitoring programs and acting as independent experts.
Our services include:
- Assisting you in meeting your breach reporting obligations
- Assisting you in your engagement with the regulators (remediation projects, surveillance, notice to produce)
- Assisting and representing advisers and AFSLs in ASIC hearings
We have presented at industry conferences as subject matter experts in compliance.
We provide regular training on topical matters and can tailor training programs based the risks areas we see across all our clients.
If you have particular areas you would like training on for you or your representatives, we can design the framework for you.
Our services include:
- responsible manager training
- specific subject matter training
- targeted risks based training identified in your business
Team Training
Ongoing Support
Ongoing compliance support is the most critical part of running your AFSL.
If you already have your AFSL and you’re enjoying the powers of freedom but you prefer not to do the compliance that comes with it, we can do most of the heavy lifting with you (or for you).
Our services include:
- Completing an initial AFSL Health Check
- Creating systems and frameworks based on your business to help you monitor the compliance of your representatives
- Carrying out advice file audits and pre-vets
- Attending your risk and compliance committee meetings as an independent external member
- Reviewing and updating your compliance policies and registers
- Providing you with regulatory updates and analysis
- Training and vetting new advisers who have on-boarded your business
"My role is to provide confidence that if the regulator knocks on the door, risk has been mitigated as much as possible."
Rhett Das, Managing Director
Find out how the team at Chrysalis have benefited from working with the Integrity team.
"For anyone considering using the services of Integrity, we can unreservedly recommend them as being a capable, value-for-money and personalised solution to meet your compliance needs at both the adviser and licensee level. Rhett and his team have the industry experience coupled with the legal qualifications to provide a comprehensive and commercial compliance outcome. We are thankful for the years of practical support, advice and innovation that Integrity have delivered to Chrysalis."
Philip Windsor, Director Financial Advice
Chrysalis Lifestyle Planning
About 4 years ago we were looking for a comprehensive compliance service to replace our dealer group offering. Rhett and his team were known to me from my attendance at conferences and his compliance advice involvement with our business. Given the high regard I had for Rhett and his company in terms of their knowledge, integrity and industry specific experience it was a natural choice to engage their services for our AFSL.
Given the hands-on and accessible manner in which Rhett operates his business, we typically receive clear, concise and well-considered responses to our many day-to-day compliance queries same day. This has allowed us to implement the actions we need to take for clients without delay to them or multiple followups to Integrity Compliance. Additionally, Integrity Compliance has created many practical tools that advisers can use to address frequently occurring questions such as when we can/can't use an ROA. These tools have saved us valuable time.
Under guidance from Rhett we have instigated compliance committee meetings with formal agendas and a calendar of critical compliance events to be completed each year. Having formal meetings along with phone access for quick compliance questions has enabled us to reduce the risk of omitting crucial compliance anniversaries. Furthermore, we now have a record of the diligence and policymaking we now apply to compliance and will be able to demonstrate due process if ever required by ASIC.