Catalyst applies a comprehensive process in assessing a licensee’s compliance systems, taking into consideration the size and nature of the licensee’s business.

The review will:

  • Assess key documentation
  • Test the application of control measures, policies and procedures
  • Identify compliance and operational risks

in the following areas;

  • Compliance arrangements
  • Complaints management
  • Breach Management
  • Conflicts of interest management
  • Risk management
  • Financial Adequacy requirements
  • Professional Indemnity insurance
  • Research and APL
  • Information Technology
  • Disclosure documents
  • Appointment & Cessation of representatives
  • Representative supervision and monitoring
  • CPD
  • Financial product advice procedures (including SOA and ROA production)
  • AML/CTF procedures

Retention of documentation to establish if the licensee is complying with the relevant;

  • legislative requirements
  • licence conditions
  • ASIC’s Regulatory guides; and
  • licensee internal requirements

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