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Regulatory Advice.

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If we ever had an idle moment (hah!), we'd count all the rules that apply to financial services and credit businesses.

At a guess, there'd be well over 50 places to look.

Acts, Regulations, Regulatory Guides, Class Orders, ASIC Relief, Cases, Industry Guidelines, Tribunal Decisions, No Action Letters, Info Sheets, Consultation Papers, Codes of Practice... Aaaaagh - enough!

The Fold’s regulatory lawyers have a unique capability for understanding and managing the interplay between your commercial objectives and the regulatory requirements that apply to financial services businesses.

  •   Complying with privacy, trade practices and spam legislation
  •   Implementing compliance policies and procedures
  • The Fold’s Manuals

    Realising what a challenge it is for businesses to determine what regulation applies to them, we developed The Fold’s Manuals. These business operations manuals synthesise all the rules into guidance, policies and procedures that you can follow.

    Our clients call them 'the bible'. We’re not expecting to be walking on water any time soon, but we do know that if you customise them for your business, you’ll have taken ownership of compliance and have a pragmatic compliance management system that will satisfy ASIC.


    The basis of our system is [The Fold] Manuals designed to suit our needs.
    Novatax Pty Ltd, David Minehan


    ...The [Credit Licensee] Manual is Pure Gold. A practical, straightforward explanation of a mortgage brokers obligations. COSL regularly uses it as a guide.
    Credit Ombudsman’s Service Limited, J Kirswani

  • Training

    Responsible Managers Masterclass

    Are you sure that your managers have enough knowledge of the AFS or NCCP requirements to keep you on the right side of the regulator?

    Our licensing specialists run Responsible Managers Masterclasses for Responsible Managers, compliance managers and indeed any senior manager of a financial services or credit business.

    It takes a full day, but includes lots of interactive activities to keep you on your toes. It covers the following areas:

    •   The Role and Responsibilities of Responsible Managers – what it means to be a Responsible Manager, the qualifications and experience required, responsibilities and overall liabilities involved.
    •   Regulation in the Financial Services Industry – who are the regulators and what do they do?
    •   Providing Financial Services – what is a financial or credit service and what compliance and disclosure obligations apply?
    •   AFS Licensees’ Obligations – an in-depth view of all the regulatory requirements that apply to financial services and credit businesses.



    Statements of Advice

    Let us help your advisers debunk the SoA myths. Give them the confidence and knowledge to use their SoA as a communication and risk management tool. It covers the following areas:

    •   Streamlining and simplifying SoAs - what must be in and what you can safely leave out.
    •   Incorporating information by reference.
    •   How to explain the basis for your recommendation – connecting the dots.
    •   Properly disclosing the risks of your advice.
    •   Explaining the use of APLs.
    •   Remuneration and product cost disclosure – demonstrating the value you provide.
    •   Replacement products – what are they and what does the client really need to know?
    •   Other tips and traps to turn your SoA into an invaluable client communication tool.

If this appeals to you, then get in touch.

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