Regulatory Alerts2024-08-30 | RG-206RG 206 Credit licensing: Competence and training
The Australian Securities and Investments Commission issued Regulatory Guide 206 to outline minimum expectations for credit licensees demonstrating organisational competence under section 47(1)(f) of the National Credit Act. Licensees must ensure their representatives are adequately trained and competent to engage in authorised credit activities as required by section 47(1)(g). Compliance requirements vary based on business nature and scale, with regulators assessing fit-and-proper qualifications and experience to verify adherence to these obligations.
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