Small business owners and operators who are required to have AFS licences will benefit from a new guide released by ASIC.

Ian Johnston, ASIC’s Executive Director for Financial Services Regulation, says the guide shows the scope of the compliance measures ASIC expects from small business. The paper also provides examples of checklists and measures that small business can tailor to their individual needs, he said.

“Businesses will have different requirements for meeting their compliance obligations, depending on the nature, scale and complexity of their operations. Generally, the smaller and simpler the business, the smaller and simpler the compliance and risk management procedures will be.”

Copies of the guide can be obtained from the financial services page of the ASIC website at www.asic.gov.au.