Option 1: Get your own ACL
In our experience, the biggest hurdle in getting your own ACL is
having appropriate responsible managers ('RMs'). If you do
not have suitable RMs, ASIC will not issue an ACL. RMs demonstrate
that a licensee is competent to engage in credit activities. To
demonstrate that competence and be accepted by ASIC, RMs are
required to have specific qualifications and experience. An RM must
have a credit industry qualification to a least the Certificate IV
level (eg Certificate IV in Credit Management) or another general
higher level qualification in a relevant discipline (eg Bachelor of
Accounting). However, if you are going to be providing third party
home loan assistance, the RMs will need at least a Certificate IV
in Finance and Mortgage Broking. As well as qualifications, the RMs
will need at least two years problem free experience which is
relevant to the credit activities you will be engaging in.
Preferably the RM will have obtained that
