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CP 340 Breach reporting and related obligations

Released 22 April 2021. Comments close 3聽June 2021.

This consultation paper sets out our proposals for providing guidance to Australian financial services (AFS) licensees and Australian credit licensees (credit licensees) on the breach reporting obligation that applies from 1聽October 2021.

It also sets out our proposals for guidance on the new obligations for AFS licensees who are financial advisers and credit licensees who are mortgage brokers. The obligations require these licensees to notify, investigate and remediate breaches of the law in certain circumstances.