For licensee's oversight of advice quality and audit effectiveness. Designed to raise consumers' trust and confidence in financial advice, and reduce the cost and burden of compliance for advisers, licensees, professional bodies, and regulators. Assisting Licensee oversight of best interest duty and related obligations.
ASIC’s Report 515 of large institutional advice compliance, reported that the industry met audit process and review standards only in 1 in 4 cases.
To help licensees raise the effectiveness of their advice compliance efforts, Key Risk Indicator Solutions (KRIS) has been designed to assess probabilities and potential risk in their licensed advisers.
Advice RegTech provides RegTech subject matter expertise, solutions and advisory.
For AFSLs, professional services firms, wealth management and advice divisions in the banks and life companies, associations and regulators, we offer consulting and solutions. If your organisation is seeking to improve the efficiency and effectiveness of regulatory compliance and deliver on consumer imperatives, Advice RegTech can assist.