ACL Ongoing Compliance Solutions

Australian Credit Licence (“ACL”) holders have a variety of obligations which must be documented and adhered to in order to ensure compliance with the law. Many of these obligations can often be overlooked during the course of running a business.

Sophie Grace provides compliance assistance to ACL holders to ensure they are meeting their regulatory requirements.

Sophie Grace assists all types of credit businesses including but not limited to:

  • loan/credit issuers (whether small or large);
  • loan arrangers (brokers);
  • loan advisers;
  • debt collectors; and
  • debt management service providers.

How can Sophie Grace Assist?

Compliance obligations for holding an ACL must be regularly attended to. With this in mind, Sophie Grace can provide ACL holders with ongoing compliance solutions. Our solutions include but are not limited to:

  • Chairing regular compliance meetings
  • update compliance policies and registers
  • creation of a compliance calendar to appropriately distribute the compliance workload to responsible persons and make it easier to meet obligations
  • lodging the Annual Compliance Certificate to ASIC as well as assisting with other statutory filings
  • responding to compliance questions and issues
  • liaising with internal compliance personnel and assisting with responses to regulator queries; and
  • conducting marketing reviews prior to any marketing material to be released.

Sophie Grace can provide ongoing compliance support in relation to the following:

  • compliance plans and management frameworks;
  • compliance reporting;
  • compliance procedures and policy documents;
  • Anti-Money Laundering and Counter-Terrorism Financing (AML/CTF) and AUSTRAC;
  • risk management systems;
  • conflicts management systems;
  • ASIC regulations and guidance;
  • disclosure;
  • conflicts of interest;
  • complaints;
  • breaches
  • insurance; and
  • outsourcing.

Sophie Grace also has a range of compliance documents and policy templates that can be purchased via our online shop. These documents can assist you in ensuring your compliance obligations are met, should you wish to take a more hands-on approach.

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