RG 78 Breach reporting by AFS licensees
Issued 26 February 2014
This guide is for Australian financial services licensees and responsible entities. It sets out your obligations to report to ASIC certain breaches of the law, and how we apply our administrative enforcement powers.
The following obligations to report matters to ASIC are not dealt with in this guide:
- if you are a body regulated by the Australian Prudential Regulation Authority (APRA) and you cease to hold that status (e.g. when you are a superannuation trustee and you have your approval as a trustee revoked by APRA: see Pro Forma 209 Australian financial services licence conditions (PF 209) condition 9)
- if you become aware of a change in control of the licensee: see reg 7.6.04(1)(i), or
- if you are an auditor whose breach reporting obligations are imposed by s311, 601HG or 990K: see RG 34 Auditor’s obligations: reporting to ASIC.