IDR Non-Compliance Fines
Definition
Failure to meet RG 271 IDR timeframes and documentation standards triggers regulatory breaches, leading to fines or enforceable AFCA determinations with compensation.
Key Findings
- Financial Impact: AUD 5,000+ ASIC fines per breach; AFCA compensation up to AUD 1M per complaint (indexed limits effective 2024)
- Frequency: Per unresolved complaint exceeding 30/45-day limits
- Root Cause: Manual processes causing delays in acknowledgment, investigation, and response documentation
Why This Matters
The Pitch: Investment advice firms in Australia 🇦🇺 face ASIC penalties and AFCA compensation claims up to AUD 1M per case due to poor complaint handling. Automation of documentation and tracking eliminates this risk.
Affected Stakeholders
Compliance Officers, Client Service Managers, AFSL Holders
Deep Analysis (Premium)
Financial Impact
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Current Workarounds
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Methodology & Sources
Data collected via OSINT from regulatory filings, industry audits, and verified case studies.
Related Business Risks
AFCA Compensation Payouts
Lost Client Trust and Churn
ASIC Brochure Non-Delivery Fines
Manual Brochure Preparation Labour Costs
Client Acquisition Delays from Brochure Friction
ASIC Advertising Compliance Fines
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