Part B – ACL training policy – Zagga Market
1. Introduction and purpose
1.1 Introduction
The NCCP Act (together with the National Consumer Credit Protection Regulations 2010 (Cth)) requires credit licensees to take reasonable steps to ensure that its representatives comply with the NCCP Act (s47(1)(e)), maintain the competence to engage in the credit activities authorised by its licence (s47(1)(f)), and ensure that its representatives are adequately trained and are competent to engage in the credit activities authorised by its licence (s47(1)(g)). Zagga Market is committed to ensure that it complies with these ongoing obligations.
Specifically, this Training and Fit & Proper Person Policy seeks to document in respect of Zagga Market’s business …show more content…
If it does so in the future, this policy and the document titled “ACL and AFSL Compliance Plan, including Risk Management Frameworks” will be updated.
3.3 Examples of activities for Continuing Professional Development (CPD)
Zagga Market considers the following activities will count towards the CPD requirements of its representatives and Responsible Managers:
(a) attendance at relevant professional seminars or conferences;
(b) preparation time for presenting at relevant professional seminars or conferences;
(c) publication of journal articles relevant to the credit industry;
(d) viewing DVDs of recent (within the last year) professional seminars or conferences (up to a maximum of 10 hours per year); and
(e) completion of online tutorials and/or quizzes on recent (within the last year) regulatory, technical or professional developments in the industry.
3.4 Records
Zagga Market is required to maintain a record of the CPD activities undertaken by its Responsible Managers each year. Zagga Market records information about the training of its representatives and Responsible Managers in a register in accordance with the NCCP Act.
Each year, Zagga Market conducts an audit over all Representative CPD points.
4. Personnel on-boarding …show more content…
Training strategy
2.1 Zagga Investments must ensure that its Representatives are trained and competent to provide financial services on its behalf.
2.2 There are no minimum training standards required for Representatives because Zagga Investments business does not involve the provision of financial product advice to retail clients, although it is expected that Zagga Investments:
(a) identifies the knowledge and skills its representatives need to competently provide its financial services;
(b) ensures that they have the necessary knowledge and skills; and
(c) ensures that they undertake continuing training programs to maintain and update their knowledge and skills; and
(d) maintains a record of the training they have undertaken (this is required under Corporations Regulations 2001 reg 7.6.04(1)(d)).
2.3 Initial Training
(a) All Representatives receive induction training regarding Zagga Investments policies and procedures.
(b) Representatives that provide financial services include any Responsible Managers. Zagga Investments expects Representatives to also have a generic knowledge of the environment in which they operate. This will be delivered by way of induction training
1. Introduction and purpose
1.1 Introduction
The NCCP Act (together with the National Consumer Credit Protection Regulations 2010 (Cth)) requires credit licensees to take reasonable steps to ensure that its representatives comply with the NCCP Act (s47(1)(e)), maintain the competence to engage in the credit activities authorised by its licence (s47(1)(f)), and ensure that its representatives are adequately trained and are competent to engage in the credit activities authorised by its licence (s47(1)(g)). Zagga Market is committed to ensure that it complies with these ongoing obligations.
Specifically, this Training and Fit & Proper Person Policy seeks to document in respect of Zagga Market’s business …show more content…
If it does so in the future, this policy and the document titled “ACL and AFSL Compliance Plan, including Risk Management Frameworks” will be updated.
3.3 Examples of activities for Continuing Professional Development (CPD)
Zagga Market considers the following activities will count towards the CPD requirements of its representatives and Responsible Managers:
(a) attendance at relevant professional seminars or conferences;
(b) preparation time for presenting at relevant professional seminars or conferences;
(c) publication of journal articles relevant to the credit industry;
(d) viewing DVDs of recent (within the last year) professional seminars or conferences (up to a maximum of 10 hours per year); and
(e) completion of online tutorials and/or quizzes on recent (within the last year) regulatory, technical or professional developments in the industry.
3.4 Records
Zagga Market is required to maintain a record of the CPD activities undertaken by its Responsible Managers each year. Zagga Market records information about the training of its representatives and Responsible Managers in a register in accordance with the NCCP Act.
Each year, Zagga Market conducts an audit over all Representative CPD points.
4. Personnel on-boarding …show more content…
Training strategy
2.1 Zagga Investments must ensure that its Representatives are trained and competent to provide financial services on its behalf.
2.2 There are no minimum training standards required for Representatives because Zagga Investments business does not involve the provision of financial product advice to retail clients, although it is expected that Zagga Investments:
(a) identifies the knowledge and skills its representatives need to competently provide its financial services;
(b) ensures that they have the necessary knowledge and skills; and
(c) ensures that they undertake continuing training programs to maintain and update their knowledge and skills; and
(d) maintains a record of the training they have undertaken (this is required under Corporations Regulations 2001 reg 7.6.04(1)(d)).
2.3 Initial Training
(a) All Representatives receive induction training regarding Zagga Investments policies and procedures.
(b) Representatives that provide financial services include any Responsible Managers. Zagga Investments expects Representatives to also have a generic knowledge of the environment in which they operate. This will be delivered by way of induction training