Australian Financial Services Licensing (AFSL) Forum

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    Steve

    Does ASIC have limitations at all in their powers to ask for documents?

    Under a section 30 notice, I have been asked to produce 40 client files including all the fact finds, SOAs +the normal advice documents,  but they have also asked for – all revenue statements, copies of all emails between clients, copies of all emails between product providers, all working papers, checklists, procedure manuals,  all agendas and all meeting noties and action items for all compliance meetings for the last 2 years, all onboarding documentation, all staff training documentation.

    I feel like it is a witch hunt – how can they just ask for everything….

     

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Reply To: ASIC Powers

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