The financial industry is heavily regulated and ASIC ( and to a lesser extent APRA) is not messing around when it comes to regulatory compliance. Many licensees employ a compliance professional to assist in meeting its regulatory requirements. But with the development and implementation of model portfolios, Licensees face the additional challenge of managing the efficiency and effectiveness of their investment compliance monitoring capabilities (ICM).
Atchison’s compliance services and investment compliance tools can assist Licensee’s employ a standard set of investment compliance monitoring capabilities. For example, in February 2024 ASIC issue a report highlighting that “there is often insufficient focus on performance and a lack of transparency about persistently underperforming investment options”. The ASIC review concentrated on examining how trustees, advisers and advice licensees monitored and acted when managing their approved product list (APL).
Atchison brings a deep knowledge of leading ICM practices, as well as solutions used by trustees, platforms, licensees, and advisers to monitor for investment option underperformance, including assessing performance against return objectives and performance benchmarks.
