Australia Corporations Act 2001 (Cth)
Chapter 7 Part 7.6: Australian financial services licence and general obligations – Australia Corporations Act 2001 (Cth)

Australia Corporations Act 2001 (Cth) s912A-1a: s 912A(1)(a) Provide financial services efficiently, honestly and fairly

A financial services licensee does all things necessary to ensure the financial services covered by its licence are provided efficiently, honestly and fairly (civil penalty under s 912A(5A)). Courts read the phrase as a single standard concerned with fair dealing, competence and avoiding conduct that exploits clients, and ASIC uses it for systemic failures such as fees for no service.

Maintained by Gerard Blokdyk

What else in your programme already covers this

This control maps to 1 controls across 1 other frameworks. If you already hold one of them, the evidence you collected for it is the starting point here rather than new work.

  • s13-2A-14A ss 13(2A) and 14A Insurer: do not fail the utmost good faith duty, especially in handling and settling claims

Every mapping shown was judged rather than inferred from wording similarity, and the ones that failed review are published too. See the coverage reports and what was rejected.

Other controls in Chapter 7 Part 7.6: Australian financial services licence and general obligations – Australia Corporations Act 2001 (Cth)

Query this from an agent

The graph holds this control, the 1 it maps to, and the evidence behind each claim, over MCP and REST.