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Key dates and supporting material on the HN Hub

ChangeCommencesWhat you need to know - The highlightsSupporting Policy TemplatesSupporting Training Webinar
Breach Reporting1 October 2021- The legislation is much broader and now includes ‘reportable situations’.
- Some reportable situations are “deemed” reportable – you will be reporting more frequently to ASIC.
- The regime will also apply to Australian Credit Licensees
- You have 30 days to decide if a situation is reportable, or you need to report it anyway
YesYes
Updated reference checking and information sharing1 October 2021- There are new requirements on recruiting licensees and referee licensees, which dictate how reference checks are to be conducted.Yes
Updated appointments policy
No
Internal Dispute Resolution (Complaints) Procedures5 October 2021- Response times have changed
- Definition of a complaint is much broader
- You must have a public complaints policy
- Parts of ASIC’s regulatory guide 271 are enforceable.
Yes
Yes
Design & distribution obligations5 October 2021- This obligation is in addition to Best Interest Duty
- Become familiar with relevant issuer Target Market Determinations (TMDs) and how they fit into the advice process, and what you need to do
YesYes
Hawking prohibitions consolidated and broadened5 October 2021- Outbound promotions may need to be pared back in light of the new restrictionsYes
Updated Promotional Material Policy
Yes
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