AFSL Responsible Manager CPD

About our AFSL Responsible Manager CPD

Our AFSL Responsible Manager CPD is an essential update for Responsible Managers and Governance, Risk and Compliance Leaders. AFS Licensees must ensure that the appointed responsible manager undertakes appropriate training on an ongoing basis to ensure that their skills, knowledge and competencies remain up to date.

ASIC Regulatory Guide 105 provides detailed information about the requirements of responsible managers. (RG 105.10)

ASIC doesn’t specify how many CPD hours are required for Responsible Managers of AFS licensees.

However, the CPD must be ‘adequate’ and assist a responsible manager to:

  • maintain knowledge and skills that are appropriate for their activities and responsibilities, and are consistent with any applicable training standards
  • update their knowledge and skills, especially in areas where there is continual change
  • develop new knowledge and skills to assist with their current role or roles contemplated in the near future.

Our responsible manager CPD awards 15 hours/points. This affords licensees flexibility to make up the balance of the widely accepted industry standard of 20 hours via other activities, such as industry reading, inhouse training, and industry event attendance.

About our course

In the current climate, with ASIC and APRA joining forces to co-regulate and reinforce compliance, conduct and ethics, there’s not just more of it; it’s also getting broader and more prescriptive. As the person that a licensee relies on to ensure their organisation is meeting its general obligations, it is crucial that a responsible manager feels well-equipped to perform at their best.

Our AFSL Responsible Manager CPD, released annually each year;

  • Contains five topics in alignment with what the regulators are prioritising
  • Earns 15 CPD hours/points (3 CPD points per topic).
  • Topics are separately assessed so can be studied one at a time, across the year.
  • Assessment is via a multiple-choice quiz for each topic.
  • CPD is mapped to ASIC RG105, FAS (formerly FASEA and APRA CPS 520-fit and proper categories.

Our 2025 program features a live webinar, scheduled 19 February, includes valuable insights and practical takeaways. The session will then be available on demand, allowing you to learn at a time that suits you best.

2025 AFSL RM CPD Program

Topic 1: Roles and responsibilities of a responsible manager

  • General obligations of AFS licensees
  • ASIC’s expectations regarding the conduct of responsible managers
  • How FAR interacts with ASIC licensing
  • Tips for performing the RM role effectively.

Topic 2: Meeting your risk management systems obligations

  • Significance of ISO 31000: 2018 Risk Management –  Guidelines
  • Guidance provided by ASIC and APRA on risk management
  • Findings from ASIC and APRA reviews of industry risk management practices
  • Tips for identifying, evaluating and managing risks faced by your business.

Topic 3: Overview of AML/CTF reforms

  • Current AML/CTF law refresher
  • Changes to AML/CTF Program requirements
  • Refinements to customer due diligence processes
  • Extension of AML/CTF regime to include additional high-risk services
  • Approaches for implementing new AML/CTF requirements in your business

Topic 4: Regulator priorities and enforcement activity

  • How financial services regulators approach enforcing laws and regulations they supervise
  • Key focus areas of regulator projects over the next year, including cyber and operational resilience, sustainable finance, digital technology and data, and financial fraud and scams
  • Insights for licensees in recent enforcement cases.

Topic 5: Marketing and disclosure of financial products  (webinar)

  • Types of advice and financial services disclosure refresher
  • Prohibitions on hawking and Spam
  • Sector-specific requirements, e.g. greenwashing, and deferred sales model for add-on insurance
  • Handling personal information arising from marketing and advice activities
  • Regulatory guidance for licensees and their representatives.

Program Content

Learning Outcomes

What you will learn

Who is this course for?

  • Accountable persons of APRA-regulated entities
  • Company Directors
  • Compliance personnel and consultants
  • Financial Planning Practice Manager
  • Legal and corporate advisory professionals
  • Responsible Managers
  • Risk and Compliance leaders
  • Senior Managers

Units of Competency

Pre-requisite

Recognition of Prior Learning

Certification

Upon successful completion, you will be awarded a Certificate of Attainment confirming you have achieved 15 CPD hours/points.

Our CPD is mapped to ASIC RG105, FAS (formerly FASEA) and APRA CPS 520 Fit and Proper categories.

 

 

Explore our 2025 Responsible Manager CPD

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Frequently Asked Questions

RG 105 AFS licensing: Organisational competence is a guide for Australian financial services (AFS) licensees and AFS licence applicants.

This guide describes what ASIC looks for when assessing compliance with the ‘organisational competence obligation’, which is one of the general obligations under s912A(1) of the Corporations Act.

 

Our CPD program is an essential annual update for responsible managers and governance, risk and compliance leaders.
  • Released annual each year (January - December)
  • Contains five topics in alignment with what the regulators are prioritising
  • Earns 15 CPD hours/points (3 CPD points per topic).
  • Topics are separately assessed so can be studied one at a time, across the year.
  • Assessment is via a multiple-choice quiz for each topic.
 

Responsible Managers are the people that a licensee appoints to demonstrate to ASIC that it has the knowledge, skills and experience required to provide the financial services it is authorised to on its Australian Financial Services licence (AFSL). For information on relevant legislation and important information surrounding your licensing obligations please refer to ASIC’s Regulatory Index. Are you applying for an AFS Licence? Refer to ASICs AFS Licensing Kit for your obligations.

We see Compliance Consultants as essential to good customer outcomes. Self-licensing is on the rise, ASIC is increasing scrutiny of regulated entities, and numerous legislative changes and other reforms are prompting all manner of financial services firms to seek the assistance of a Compliance Consultant. Please visit our Compliance Consultants directory.

To get started, either:
  • Purchase course/s online. (You can add multiple courses to the cart.) Please note: Online orders may take up to 1 business day to be processed and for your team to receive their course login details.
OR
Contact us for your Corporate Solution.

ASIC doesn’t specify how many CPD hours are required for Responsible Managers of AFS licensees. However, the CPD must be ‘adequate’ and assist a responsible manager to:
  • maintain knowledge and skills that are appropriate for their activities and responsibilities, and are consistent with any applicable training standards
  • update their knowledge and skills, especially in areas where there is continual change
  • develop new knowledge and skills to assist with their current role or roles contemplated in the near future.
Our AFSL Responsible Manager CPD awards 15 hours/points. This affords licensees flexibility to make up the balance of the widely accepted industry standard of 20 hours via other activities, such as industry reading, inhouse training, and industry event attendance.
What is RG206?2023-04-21T07:53:53+10:00

Regulatory Guide 206 Credit licensing: Competence and training (RG 206)

Credit licensees must comply with the organisational competence obligation in s47(1)(f) of the National Consumer Credit protection Act 2009 (National Credit Act). Regulatory Guide 206 Credit licensing: Competence and training (RG 206) sets out the minimum expectations for demonstrating organisational competence.

What you need to do to comply will depend on the nature, scale and complexity of your business. However, Regulatory Guide 206 Credit licensing: Competence and training (RG 206) sets out our minimum expectations for demonstrating organisational competence.

You must also ensure that your representatives are adequately trained and competent to engage in the credit activities authorised by your licence: s47(1)(g).

ASIC generally expects you to determine what is appropriate initial and ongoing training for your representatives and to embed this in your recruitment and training systems.

Updated annually, our CPD is designed to enable Responsible Managers and Representatives of Australian Credit Licensees to meet their mandatory RG206 continuing training requirement. Our CPD that is structured, properly assessed and recorded.

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