Regulatory OS — Legislative Breach Assessment

New Assessment — Incident Intake

Incident category

De-identified incident description / factual narrative

Product type

Members affected

Estimated financial impact ($)

Nature of financial impact

Occurrence date (optional)

Discovery date (optional)

Similar incidents?

Remediation commenced?

External service provider?

Additional known facts / context

Significance — factor assessment

ASIC — Corporations Act s 912D

Deemed significance and relief criteria

Section 912D(4) covers qualifying offences, civil penalties (subject to exclusions), specified misleading conduct, and actual or likely material client loss. Relief from one deeming limb does not remove other significance or reporting grounds.

The 2025 small-impact relief requires all conditions: no other reporting ground, no s 828C / s 981M breach, no more than 10 impacted clients, total actual or likely loss to all persons no more than $1,000 before remediation, and completed rectification including remediation within 60 days of first occurrence. Grouped conduct must be substantially similar and span no more than 60 days. Joint holders count as one client. Planned remediation is insufficient.

Separate narrow misleading-conduct relief concerns one client (or joint holders), no actual or likely financial loss regardless of remediation, and no other reporting ground. Legal must confirm the complete conditions and any prescribed civil-penalty exclusions.

ASIC Instrument 2024/620, as amended

Does the suspected breach concern an AFS licensee core obligation?

EngineNo matched provision engages an AFS licensee core obligation; confirm with Legal.

Does the breach constitute an offence punishable by ≥3 months imprisonment (dishonesty) or ≥12 months (otherwise)?

EngineNo matched provision engages a qualifying offence provision; confirm with Legal.

Is a civil penalty provision breached, after prescribed exclusions?

EngineNo matched provision engages a civil penalty provision; confirm with Legal.

Is misleading conduct under s 1041H(1), ASIC Act s 12DA(1) or s 12DB(1) involved?

EngineNo matched provision engages specified misleading-conduct provisions; confirm with Legal.

Have all conditions for applicable ASIC relief from civil-penalty / misleading-conduct deeming been confirmed?

EngineRelief conditions cannot be confirmed from the intake; answer manually.

Does the breach cause, or likely cause, material loss or damage to clients?

EngineFinancial impact or its nature not established.

Do the number or frequency of similar breaches indicate significance?

EngineRecurrence not confirmed.

Does the breach significantly affect the ability to provide licensed financial services?

EngineNo service-delivery impairment identified; assess manually.

Does the breach indicate compliance arrangements are inadequate?

EngineNo recurrence or unremediated provider failure identified; assess manually.

Do any other prescribed significance matters support significance?

EngineOther prescribed matters require manual judgment.

APRA — SIS Act s 29JA

Has an RSE licence condition been breached, or will it be breached (SIS s 29JA)?

EngineNo matched provision engages an RSE licence condition (RSE licensee law); confirm with Legal.

Do the number or frequency of similar breaches indicate significance?

EngineRecurrence not confirmed.

Does the impact on the ability to fulfil trustee obligations support significance?

EngineNo service-delivery impairment identified; assess manually.

Does inadequacy of compliance arrangements for RSE licensee law / Chapter 2M support significance?

EngineNo recurrence or unremediated provider failure identified; assess manually.

Is actual or potential financial loss to the entity or beneficiaries significant in context?

EngineFinancial impact or its nature not established.

Do any other prescribed significance matters support significance?

EngineOther prescribed matters require manual judgment.

Supporting evidence / rationale

Significance Assessment

ASIC

Undetermined

Applicable obligations or significance factors remain unconfirmed. No negative conclusion can be drawn from missing answers.

Override conclusion

10 factor / scope answers unresolved

Check inability to comply, qualifying investigations exceeding 60 days, gross negligence and serious fraud separately. Reporting: generally within 30 calendar days of reasonable grounds under s 912DAA, not simply incident discovery.

Corporations Act — ss 912D, 912DAA

APRA

Undetermined

Applicable obligations or significance factors remain unconfirmed. No negative conclusion can be drawn from missing answers.

Override conclusion

6 factor / scope answers unresolved

SIS s 29JA: report significant RSE licence-condition breaches as soon as practicable and within 30 days after awareness of the breach. CPS 230/234 incident notifications are separate tests; Legal must check them independently.

SIS Act — s 29JA

Probable Laws Breached

Intake: 0%

Insufficient information

No candidate provisions identified.

Assessment Notes

Select an incident category to activate legislative matching.

Legal Referral Note

Facts, suspected breaches and separate significance views for Legal.