Regulatory and compliance activities | Australian Financial Security Authority

AFSA’s Insolvency Practitioner Regulatory and Compliance activities.

What we do and how we do it

AFSA conducts is regulatory work in accordance with the Regulatory Framework IGPS1 and each annual Insolvency Practitioner Compliance Program. The following eight (8) core functions support this work.

What we do	How we do it
1. Trustee (RT) and debt agreement administrator (RDAA) registrations	Guidelines and processes for registration of debt agreement administrators IGPS 4 Trustee registered under the Bankruptcy Act 1966 registration application process IGPS 13
2. Inspections	Monitoring and inspection of bankruptcy trustees and debt agreement administrators IGPS11
3. Proactive monitoring	Monitoring and inspection of bankruptcy trustees and debt agreement administrators IGPS11 Monitoring and acting upon misleading or deceptive RDAA advertising IGPG 1
4. Guidance	Personal insolvency Regulator newsletter Podcasts AFSA practices and policies Forums and information sessions
5. Complaints	Complaints handling process for complaints against bankruptcy trustees and debt agreement administrators IGPS 10
6. Inspector-General reviews	Statutory reviews of trustees' decisions under the Bankruptcy Act 1966 by the Inspector-General in Bankruptcy IGPS 12 Assessment by the Inspector-General of a trustee's remuneration approval request IGPS 15 Reviewing remuneration of trustees and costs of third party service providers IGPS 16
7. Disciplinary action	Involuntary cancellation of registration of debt agreement administrators and ineligibility IGPS 9 Involuntary cancellation of trustee registration IGPS 8
8. Investigate and prosecute offences against the Bankruptcy Act 1966	Issuing of infringement notices by the Inspector-General in Bankruptcy IGPS 18 Referring offences against the Bankruptcy Act 1966 to the Inspector-General IGPS 14