RG 207 Credit licensing - Financial requirements

An Australian credit licensee must comply with the obligation to have adequate financial resources in s47(l)(l) of the National Consumer Credit Protection Act 2009 (National Credit Act).

As a credit licensee, you are responsible for deciding how to comply with the financial resource requirements. Regulatory Guide 207 Credit licensing: Financial requirements (RG 207) sets out our minimum expectations for demonstrating that you have adequate financial resources.

You must be able to confirm to ASIC that you can comply with the financial resource requirements when you apply for a credit licence and on an ongoing basis as part of the annual compliance certificate. 
 
Regulatory Guide 207 Credit licensing: Financial requirements (RG 207)

What's new

ASIC reports on credit rating agencies

ASIC has conducted a market-wide surveillance of credit rating agencies and made a number of recommendations for change. 18-042MR. 15 February

ASIC welcomes establishment of the Australian Financial Complaints Authority

ASIC welcomes the passage through Parliament of the Bill to establish the Australian Financial Complaints Authority (AFCA). 18-041MR. 14 February

Small amount credit contracts and consumer leases - ASIC submission on draft bill

ASIC has provided comments on the Exposure Draft of the National Consumer Credit Protection Amendment (Small Amount Credit Contracts and Consumer Leases Reforms) Bill 2017. 7 Nov

Latest credit releases

Last updated: 25/06/2010 12:00