Credit: General conduct obligations

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As a credit licensee, you must engage in credit activities efficiently, honestly and fairly, maintain organisational competence and manage conflicts of interest.

You must:

maintain your organisation's training and competence (see Regulatory Guide听206 Credit licensing: Competence and training (搁骋听206))
have adequate financial resources to engage in credit activities, if you are not also regulated by the Australian Prudential Regulation Authority (APRA) (see Regulatory Guide听207 Credit licensing: Financial requirements (搁骋听207))
have an adequate process for appointing and supervising credit representatives
have in place dispute resolution procedures
have adequate consumer compensation and insurance arrangements (see Regulatory Guide听210 Compensation and insurance arrangements for credit licensees (搁骋听210)).

You are responsible for deciding how to comply with the general conduct obligations.

To help you comply, Regulatory Guide听205 Credit licensing: General conduct obligations (搁骋听205):

outlines key compliance concepts that apply to all of the general conduct obligations
describes what we look for when we assess compliance with various general conduct obligations
includes questions to help you design and test your measures for complying with the general conduct obligations.