Just in from RA-AUS ASIC


Important changes to ASIC processing         13 June 2017
Over the last couple of months RAAus has been keeping members informed regarding changes to the system of issuing ASICs. Please see the following resource for updates on these changes: Identity Security Regulatory Amendments
One option RAAus was exploring as a result of these changes was working with CFIs to provide assistance to members when renewing or applying for an ASIC. Following further investigation and review, the RAAus Board has taken the decision to no longer be an issuing body for the purposes of ASIC.
The new system carries with it complex, and what RAAus believes to be, onerous changes. As an example, face to face processing requirements will inconvenience our members and place pressure on our CFIs. The processes are both burdensome and administratively heavy with no obvious safety or security improvement. Implementing the new changes would add unnecessary cost to RAAus meaning the delivery of this service has essentially become unsustainable.
Furthermore, the risk placed onto our CFIs, staff and the Board has been assessed as too great for RAAus to accept. As an example, as an issuing body, anyone processing an ASIC application will be required to identify fraudulently prepared and forged documents and there are penalties for failure to take all the steps necessary to identify such documents. RAAus does not believe this is the role of our organisation.
Therefore, from 1 August 2017, RAAus will no longer accept applications for an ASIC or renewals for an ASIC, including applications from RAAus members.
Any application lodged before this date will be processed in accordance with the current arrangements.
To assist members after 1 August 2017, RAAus will provide a list of ASIC providers on our website.  Please click here for your closest Issuing Bodies.
Please direct any inquiries regarding ASIC changes to kelly.stirton (at) raa.asn.au
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