Adviser and Representative Reviews
As a Licensee, your business needs to take reasonable steps to ensure that your representatives comply with their specific obligations. As part of this, you are required to have adequate resources to carry out supervisory arrangements and to ensure that your advisers and representatives are trained and competent to provide financial services authorised under the licence.
Adviser and representative reviews should be part of your business’ overall strategy for achieving compliance. Reviews are not the same as an audit – they can be focussed on a specific objective or evaluate your overall compliance plan. Think of it as compliance consulting and a safety check rolled in to one. To stay on top, your business needs to build and maintain a culture where the advisers, representatives and reviewers work together to achieve your compliance goals.
Our lawyers have extensive knowledge of the industry, the advice process and compliance programs, as well as a knack for spotting problem areas, which they can offer to improve your business.
Contact us now to organise a review or discuss our services with you further.