See the one page mind map which summarises the responsible lending obligations.  Click on the diagram to download it.



RG 209 finalises ASIC’s guidance and takes into account issues raised by the consultation paper on responsible lending which was released in September 2009.

RG204 covers:

• making reasonable inquiries about a customer’s financial situations and needs and objectives;
• unsuitability assessments; and
• disclosure obligations.

For more information and to view the Regulatory Guide in full, go to ASIC’s credit website at: http://www.asic.gov.au/asic/pdflib.nsf/LookupByFileName/rg209.pdf/$file/rg209.pdf

Questions?  Leave a comment below or give Kathryn Wardrobe a call.

Responsible lending obligations – a summary of the new Regulatory Guide 209 by Holley Nethercote Commercial Lawyers is licensed under a Creative Commons Attribution-Noncommercial-No Derivative Works 2.5 Australia License.

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