| ELEMENT | PERFORMANCE CRITERIA |
| Elements describe the essential outcomes. | Performance criteria describe the performance needed to demonstrate achievement of the element. |
| 1. Examine legal context of financial services work | 1.1 Identify key features of Australian legal systems and processes relating to own role1.2 Identify functions of courts and other regulatory bodies relating to own role1.3 Analyse implications of related legislation, regulations and legal precedents for operational decisions, and apply findings in decision-making process1.4 Seek advice and guidance to evaluate and moderate decision-making processes |
| 2. Identify compliance requirements of financial services work | 2.1 Interpret compliance requirements of own financial services work, and confirm interpretation with authoritative source relating to own role2.2 Review legislative and regulatory sources of information to identify changes to compliance requirements2.3 Analyse impact of changes to compliance requirements on business operations, policies and procedures |
| 3. Develop compliance procedures | 3.1 Develop procedures in consultation with others to address compliance requirements3.2 Establish timeframes to meet compliance requirements to align with statutory deadlines |
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