Reportable situations for AFS and credit licensees
Key points
- Regulatory Guide 78 Breach reporting by AFS licensees and credit licensees (RG 78) provides further guidance as to what licensees must report to ASIC and when to report to ASIC.
- Reportable situations must be submitted via the prescribed form in the ASIC Regulatory Portal.
- The prescribed form for reportable situation transactions features mandatory fields designed to help licensees comply with their obligations.
Reportable Situations data dashboard
The reportable situations interactive dashboard allows users to engage with data about the breaches that Australian financial services licensees and Australian credit licensees report to ASIC. It provides insights into the nature and impact of breaches as well as how industry is identifying and responding to those breaches.
Main characteristics of the reportable situations regime
AFS and credit licensees must generally report all reportable situations to ASIC via the prescribed form available in the ASIC Regulatory Portal, including:
- a number of situations are deemed to be significant and therefore reportable, and
- AFS and credit licensees must notify ASIC of reportable situations, generally within 30 calendar days, after the licensee first knows that, or is reckless with respect to whether, there are reasonable grounds to believe that a reportable situation has arisen.
More information
- How to submit a reportable situation
- Information Sheet 259 Complying with the notify, investigate and remediate obligations (INFO 259)
- Reportable situations insights annual publications
- Financial services homepage
- The reportable situation data dictionary for definitions and key terms
Still have a question?
You can send questions to: feedback.breach@asic.gov.au.