RG 78 Breach reporting by AFS licensees and credit licensees
Issued 7 September 2021
This guide is for Australian financial services (AFS) licensees and Australian credit licensees (credit licensees).
It gives guidance on your obligation to report to ASIC certain breaches of the law under Div 3 of Pt 7.6 of the Corporations Act 2001 (Corporations Act) and Div 5 of Pt 2-2 of the National Consumer Credit Protection Act 2009 (National Credit Act).
Note: This guide does not cover certain reporting obligations: see RG 78.12.
For AFS licensees, the breach reporting framework in s912D of the Corporations Act (as in force immediately before 1 October 2021) continues to apply with respect to the reporting of certain breaches, as set out in s1671A of the Corporations Act. The superseded version of RG 78 – SRG 78 Breach reporting by AFS licensees, issued March 2020 – continues to be available for guidance for AFS licensees in these circumstances.
Breach reporting reforms
See CP 340 Breach reporting and related obligations