Responsible Managers

Responsible Managers


Australian Financial Services Licence Responsible Managers

3 December 2019

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Responsible Managers of Australian Financial Services Licensees (AFSL)

You can register now for any of our Responsible Manager courses by clicking the relevant course listed in the left column of this page under the heading Courses.

This half-day course provides an overview of the role of:
  • AFSL Responsible Managers;
  • Compliance Managers and support staff who need to understand the role of Responsible Managers; and
  • People nominated as Responsible Managers (but who, as part of a licence application, are required by ASIC to undertake a training course like this one offered by Compact before ASIC will allow them to be Responsible Managers).
The course covers:
  • an overview of an AFSL's Responsible Manager's role;
  • a concise summary of the fundamental features of the financial services reform regime;
  • consideration of licensee obligations;
  • AFS licence authorisations (if applicable);
  • whether personal liability attaches to your role as a Responsible Manager; 
  • breach identification, assessment and reporting; and
  • ASIC's role and recent regulatory action.
The course is available either as:
  • a tailored course for a licensee's Responsible Managers; 
  • a public seminar (see list of dates to the top left of this page); and
  • an online seminar (see list of dates to the top left of this page).


Learning Outcomes

After participating in this course you will be able to:
  • meet "ongoing training" requirements as set out in ASIC RG 105;
  • explain your role as a Responsible Manager;
  • explain key regulatory obligations in relation to the provision of financial services;
  • explain the business' authorisations under its AFS licence;
  • consider and explain potential personal liability arising from acting as a nominated Responsible Manager; and
  • identify and explain developments and trends that have, and are, taking place in the financial services industry which might impact on Responsible Managers.

So, come and join our training either in the traditional face-to-face setting or participate in an online seminar that's interactive and practical.  You will learn through a mix of theory and practice.  Training includes presentation, interaction, polls, the provision of a manual and simulated tasks.

What have people said about our RM training courses?

  • "Current and real." Julie Rynski (National Australia Bank)
  • "[The presenters] made boring content engaging." Shae Russell (Port Phillip Publishing)
  • "Very good examples and interactivity.  Reinforced understanding of the 3 key RM responsibilities and detailed understanding of 912A.  The online experience was very easy to use."  Joe Kassel (AMP Capital) 
  • "The programme focusses on key points, is not "powerpoint" structured." Andrew Skyring (Bedford CA)
  • "The mindmaps are very powerful.  Deep knowledge/experience of Tim and Grant.  The programme provides a very useful framework." Simon Wain (National Australia Bank) 
  • "I now understand what is the purpose of the role of the RM.  Thank you." David Deverall (Hunter Hall) 
  • "Interactive, not too detailed." Nick Bishop (Aberdeen Asset Management) 
  • "Legal aspects of ASIC investigations." Russell Woollett (WP Investments Pty Ltd) 
  • "Complete duties as an RM more fully." Peter Kaminski (Legg Mason)
  • "Flowed well.  Presented by hands-on experts, not trainers.  Role play very effective in highlighting issues to think about." Mark Oliver (Macquarie Equities Ltd)
  • "Highly competent/engaged presenters with real world experience." Matt England (Macquarie Equities Ltd) 
  • "I enjoyed the presentation style with 2 presenters." Anonymous (Macquarie Equities Ltd)
  • "I liked the course material.  It was a group discussion, not a lecture." (Macquarie Equities Ltd)
  • "I liked the online video of presenters, their hosting style, display of ppt material and highlighting in real time of the page and paragraph they're referring to.  The training provides good background overview of the role and responsibilities.  Overall it was a great experience." Philip Chow (Amundi Asset Management Australia Ltd)
  • "The webinar training was very practical without being too dry.  The ties were a nice touch too." Alex Nicholas (OrbitRemit Global Money Transfer Ltd)
  • "The course was fairly interactive and clarified some issues that we have been discussing internally.  The online experience was easy to use." Tino Di Battista (Hayes Knight Melbourne Pty Ltd)
  • "The training was relevant to the materials, engaging.  It gave me a broader picture of ASIC's role and, more importantly, their mindset.  I found the online training experience easy." Robert Coyne (Eva Pacific)
  • "The session was insightful, interactive and highly engaging, a reflection on Paul's and David’s knowledge and professionalism.  A number of items were noted during the session which will allow us to further improve our compliance regime.  I have received excellent feedback from the team and would like to thank Paul and David for your time." John Wills (CBRE Capital Advisors)
  • "Interactive on a heavy topic/subject matter and helped simplify my understanding." Ben Holihan (Victorian Teachers' Mutual Bank)
  • "Good overview of the RM responsibilities and the 10 Commandments." Moira Cotter (Grant Thornton Wealth Advisory)
  • "Learning about liabilities and various areas such as in depth breach analysis and enforced undertakings." Paul Hill (Go Markets)
  • "The engagement and real life cases to make the training open to all attendees and clear." Marie Velliz (Western Union Business Solutions)
  • "Instilled without doubt the significance of the Responsible Manager role in financial services." Derek Miller (Hampton Property Funds)
  • "Free flowing, accommodate questions from group, little powerpoint usage!" Mark Rozanic (Plum Financial Services)
  • "Very informative.  Presenter made a dry topic quite entertaining." Randall Maas (NAB)
  • "Compliance made enjoyable." Oliver Imre (IG Markets)
  • "Use of real life examples. Fast paced. Use of two presenters much better than one. Good interplay." Alex Reid (ANZ)
  • "I liked the inclusion of all participants, diversity of participants, breadth of topics covered." Jillian Haggerty (Challenger Financial Services Group)
  • "Flushed out the real issues - provided insight in how to conduct oneself as a RM." Mark Lewin (Avenue Capital Management)
  • "Insight into role of a Responsible Manager." Andrew Merry (London Capital Group)
  • "Deep knowledge and teamed presentation." Nigel Greenaway (Eureka Funds Management)
  • "Small group enabled questions to be asked that were relevant to us." Olympio Andronicos (Hume Building Society)
  • "Interaction and relevant case examples." Kate Butterworth (Compliance Matters Pty Ltd)
  • "Real life examples and insights into (the) workings of ASIC." Craig Watson (Wealth Within Limited)
  • "It was informative, not boring, and interactive." Bob Kelly (Eureka funds Management)
  • "It brought me back to the basic requirements of AFSL Compliance." Elliot Opolion (ADP Employer Services)
  • "The content was presented at a good level and pace." Gary Newman (ANZ)
  • "I particularly liked the concise nature of the topic and its delivery." David Bannerman (Richard Oliver Underwriting P/L)