Breach Reporting Workflow Chart – AFSL / ACL Licensees

21 October 2021
Liam Hennessy, Partner, Brisbane

The new breach reporting regime for AFSL / ACL holders came into effect on 1 October 2021. The primary shift under this new regime is to adopt a more expansive scope of ‘reportable situations’ (i.e. matters that must immediately be reported to ASIC), and the introduction of ‘deemed significant breaches’. Owing to appreciable complexity, there has been considerable confusion. Gadens have created the attached flow chart to simplify the regime for AFSL and ACL holders. You can download the flowchart, which many of our clients are using in conjunction with the Gadens breach manager, by clicking the link below.

Breach Reporting Workflow Chart – AFSL / ACL Licensees


Authored by:

Liam Hennessy, Partner
Taylor Green, Solicitor
Ashlee Blannin, Paralegal
Jeremy Davis, Paralegal
Jeremy Maybloom, Paralegal

This update does not constitute legal advice and should not be relied upon as such. It is intended only to provide a summary and general overview on matters of interest and it is not intended to be comprehensive. You should seek legal or other professional advice before acting or relying on any of the content.

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