AFSA has developed a proposed Compliance Program for 2022-23 that outlines how we plan to continue to maintain confidence in the systems we regulate. For the first time, a single annual program is planned to cover both personal insolvency and personal property securities.
After analysing data, trends, intelligence and stakeholder feedback AFSA develops and publishes a Compliance Program that outlines how we will continue to maintain confidence in the systems we regulate.
As a firm and fair regulator, our focus is to make compliance as easy as possible for everyone who uses our systems. We use effective, efficient and transparent approaches to monitor the compliance of the regulated community, our performance as a regulator and to identify and take appropriate regulatory action.
We recognise that regulation is at the heart of everything we do. With overarching principles to guide our activities, we focus on achieving our regulatory objectives and strengthening trust and confidence in the personal insolvency (PI) and personal property securities (PPS) systems.
The proposed 2022-23 Compliance Program has three intended focus areas:
1. Support at-risk users
2. Drive willing compliance and engagement
3. Address misuse in the system
Visit the AFSAsandpit website to provide your feedback. Consultation closes on 7 June 2022.