The ACL attestation is made up of 5 short questions that ask the ACL holder to confirm that they are meeting their general conduct obligations and Connective’s requirements. It will be sent to the director(s) on the anniversary of your ACL commencement date.
Why are we doing this?
The regulatory landscape has significantly changed, and regulators and lenders now expect more from Australian Credit Licence (ACL) holders and from us, as your aggregator. We also want to ensure we are giving you valuable feedback to help you protect your business.
As the holder of an Australian Credit Licence, you are required to have policies and procedures in place to meet your General Conduct Obligations. This includes, but is not limited to, topics covering risk management, responsible lending, and internal dispute resolution. Holders of an ACL are also obligated to ensure the loans submitted under their license are monitored for adherence to legislation, including but not limited to, NCCP, BID, and Privacy.
Who must complete these attestations?
You will receive this attestation if you hold an ACL in your individual name or are the director of a company that holds an ACL (usually the principal of the business).
If there is more than one director of the business that holds the ACL, we will issue the attestation to all directors however this only needs to be completed once. You may also designate another person within your business to complete the attestation, such as your responsible manager or your compliance manager by simply forwarding the email to them for completion.
When do I need to complete this?
You’ll receive the attestation on an annual basis. We’ll send out the attestation around the same time as your ACL renewal date. Hopefully, this will mean you will have recently completed or are about to complete, your ASIC CL50 form so the answers to this attestation should be fresh in your mind.
How long will it take to fill out the attestation?
About 2 minutes!
I have completed my survey, what next?
We will receive your responses to the attestation and may follow up with you if we have any additional questions.
We will also sample-check some of the responses we receive. If you are selected, this will involve a conversation with one of our Compliance Support Managers where you will evidence your responses to the survey. This should not take more than an hour of your time.
If you have any questions about the attestation, please contact firstname.lastname@example.org.