ACL Solutions for Australian P2P Lending Platforms | Pre-licensing Assessment | P2P Lending ACL Application Management | Post-licensing Risk and Compliance Support

We offer a comprehensive set of solutions to help you obtain and maintain an Australian Credit Licence for P2P lending service operators (P2P lending ACL) issued by the Australian Securities and Investments Commission (ASIC), tailored to:

• Your business goals and objectives
• Your client demographics
• Your countries of operation
• The size of your business
• The available human and technology resources
• Your risk appetite
• Your governance structure
• The products that you offer
• ASIC regulated P2P lending platforms’ obligations covering risk and compliance management under financial laws and regulations, the applicable financial licensing requirements, AML/CFT laws, privacy laws, consumer protection laws, and more

We have designed our regulatory licensing solutions to help you navigate the complexities of the Australian licensing regime for P2P lending in a commercially oriented and goal-focused manner, providing effective support for all stages of the Australian P2P lending platforms' licensing process, including but not limited to the following aspects:

• P2P lending ACL Guidance: Advising on a wide range of aspects associated with Australian P2P lending platforms' licensing as it relates to your specific situation
• Pre-licensing assessment: Covering compliance gap analysis as well as risk and compliance assessment
• Pre-licensing support:

• Drafting the necessary policies and procedures to help you comply with the Australian P2P ACL requirements and the P2P lending platforms' regulations
• Developing internal controls to help you meet your obligations under the Australian licensing regime for P2P lending

• P2P Lenders' ACL Application Support: Covering the entire licensing process
• Post-licensing Support: Covering

• Ongoing compliance advice
• Comprehensive second-line risk and compliance support, including leading the implementation of your risk management framework (RMF), compliance management framework (CMF), compliance monitoring program (CMP), compliance calendar and checklist, ongoing risk assessments, internal and external reporting, outsourced providers' management, and more
• AML/CFT advice
• AML/CFT compliance management
• Compliance assurance solutions, including compliance assurance program (CAP) development, implementation, and internal control testing

 

Service Coverage

This page is about the Australian P2P lending ACL. In Australia, entities that operate a P2P lending service involving regulated consumer credit must hold an Australian Credit Licence (ACL) from ASIC. An ACL authorises credit activities under the NCCP Act (for example, acting as a credit provider or providing credit assistance/intermediation). Depending on the platform structure, additional requirements may apply (e.g., AFSL/MIS where investor funds are pooled, and AUSTRAC registration for AML/CTF). We offer support for P2P lending ACL applications tailored to:

• Lending-Based Peer-to-Peer Platforms
• Real Estate P2P Lending Platforms
• Debt P2P Lending Platforms
• Microfinance P2P Lending Platforms
• Community-Based P2P Lending Platforms

You can find more information about our P2P lending ACL solutions below:

 

Australian P2P Lending Platforms’ Licensing Preparation

Pre-licensing Compliance Assurance

Our P2P lending ACL solutions cover the following focus areas:

• Compliance Goals Analysis: We review your business-specific goals and resources against the suitability criteria for an Australian P2P lending ACL
• Initial Consultation: We provide guidance on potential risk and compliance issues that may arise during the Australian P2P lending platforms' licensing process
• Choosing the Right Jurisdiction: We assist in evaluating regulatory, risk, and compliance environments to determine the most suitable jurisdictions for your P2P lending ACL, tailored to suit your:

• business objectives,
• operational capacity,
• client base,
• markets of operations,
• and other relevant factors

• Gap Analysis: We identify gaps between your existing operations and regulatory requirements and help you align them in a commercially oriented manner
• P2P Lending ACL Application Plan: We help you establish a roadmap to meet the requirements of the P2P lending ACL effectively

 

P2P Lending ACL Guidance

Selecting the right compliance model is crucial not only for navigating the licensing process but also for maintaining ongoing compliance and avoiding potential breaches. Our Australian P2P lending platforms' licensing solution covers:

• Compliance Model Selection: To help you best comply with the Australian licensing regime for P2P lending and related risk and compliance obligations.
• Corporate Governance Model Selection: We offer practical guidance on establishing effective corporate governance practices that support your risk and compliance oversight.
• Operations Model Advisory: We advise you on optimising your operational and governance models to help you efficiently comply with the licensing requirements for P2P lending platforms and other applicable ASIC regulated P2P lending platforms’ obligations, keeping in mind your specific circumstances, available resources and business goals.

 

Entering ACL Regulated Environment

We help businesses transition from an unregulated environment to operating under the Australian licensing regime for P2P lending, helping them meet their obligations as a P2P lending ACL holder.

We also assist already regulated businesses in aligning their existing risk and compliance management structures with the Australian licensing regime for P2P lending requirements. Our focus areas for this service include:

• New businesses
• Existing Australian P2P lending platforms operating in unregulated markets
• Australian P2P lending services expanding into foreign jurisdictions
• Financial institutions and/or service providers with established risk and compliance frameworks seeking to introduce operating a P2P lending platform as a new product.

 

Multi-Jurisdictional Compliance

With years of experience managing risk and compliance obligations for businesses operating under multiple financial licences across various jurisdictions, we help businesses remain compliant with P2P lenders’ obligations globally.

 

P2P Lending ACL and Wholesale Markets

Obtaining an Australian Credit Licence (ACL) may not be necessary or suitable for all P2P lending platforms, particularly where lending activity is limited to wholesale or business borrowers. Wholesale or business lending models generally fall outside the scope of the Australian Credit Licence (ACL) regime under the NCCP Act, as they do not involve regulated consumer credit contracts. We offer risk and compliance management solutions to assist P2P lending platforms that:

• Operate exclusively in wholesale or business lending markets or do not require an ACL due to the absence of regulated consumer credit activity
• Offer services to sophisticated, professional, and wholesale investors under the Corporations Act

We help these platforms manage compliance obligations that may still apply, including:

• Corporations Act obligations where an AFSL/MIS is also required
• Anti-Money Laundering and Counter-Terrorism Financing (AML/CTF) compliance
• Product governance and disclosure obligations for wholesale offerings (where applicable)
• Restrictions on making offers to retail clients without a disclosure document
• Governance, risk management, and outsourced service provider oversight

 

P2P Lending ACL Application

We can assist with your P2P lending ACL application through ongoing engagement in the Australian P2P lending platforms’ licensing process:

• Document Compilation and Review: We compile and review all required supporting documents to support your P2P lending ACL application.
• Application Form Completion: We help you complete the forms so that all material information is accurate and complete.
• Pre-Submission Review: We can arrange a pre-submission review session with key stakeholders to ensure all parts of your ACL application are understood and agreed upon. This session aligns application details with the actual situation, removing ambiguity.
• Regulatory Liaison: We manage the end-to-end submission process, maintaining clear and effective communication channels throughout the Australian P2P lending platforms’ licensing.
• Timeline Management: We closely monitor and adhere to all necessary deadlines, providing timely updates and adjustments to keep the ACL application process on track.

 

Resolving P2P Lending ACL Issues

Having competent compliance advisors is crucial when licensing issues arise. Therefore, our P2P lenders’ ACL solutions include a range of services to address and resolve these issues effectively:

• Remediation Solutions for P2P Lending ACL Applicants: We address and remediate risk and compliance issues identified by regulators, helping your operations align with the Australian licensing regime for P2P lending.
• Specific ACL Conditions Compliance: We can help you manage additional conditions imposed on your P2P lending ACL, developing a tailored action plan to maintain compliance and facilitate the eventual removal of these conditions with minimal disruption to your business operations.
• Licensing Issues Handling: We address common licensing issues encountered during the Australian P2P lending platforms’ licensing process, providing you with solutions to navigate and resolve these challenges efficiently.
• Further Information: You can visit our Compliance Remediation Solutions page for more information.

 

Post-Licensing Support

We offer a full range of ongoing risk and compliance solutions for licensed P2P ACL holders. Our services include, but are not limited to:

Ongoing Risk and Regulatory Compliance

• ASIC Regulated P2P Lending Platforms’ Obligations Guidance: We can advise your risk, compliance, management and other teams on meeting the requirements of the Australian licensing regime for P2P lending and other regulatory compliance obligations. You can visit our Compliance Consultancy Service page for more information.
• Regulatory Risk and Compliance Management: We provide dedicated compliance managers to manage your overall compliance. For more information, visit our Specialised Compliance Management Solutions page for P2P Lenders.
• Compliance Assurance Solutions: As part of our compliance assurance solutions, we offer:
• Compliance Assurance Program (CAP) development and testing options
• Internal Controls Design option
• Internal Controls Testing option
• Internal AML/CFT Review option
• Statutory AML/CFT Audit option
• Compliance Training Solutions: We offer training programs to different teams on complying with:
• ASIC regulated P2P lending platforms’ obligations for risk, regulatory compliance management, and P2P lending regulations. You can visit our Compliance Training page for more information.
• P2P lending platforms' AML/CFT obligations and operational best practices for fraud prevention. You can visit our AML/CFT Training page for more information.
• Crisis Management Planning: We can develop proactive strategies to manage potential compliance crises effectively.
• Anti-Money Laundering (AML) and Counter Terrorist Financing Solutions: We provide a full range of AML/CFT solutions for Australian P2P lending platforms. For more information, visit our Specialised AML/CFT Solutions page for P2P lending platforms.
• Advanced Compliance Technologies: We can assist you with selecting and integrating advanced technology solutions, such as compliance automation tools and regulatory technology (RegTech), to streamline compliance processes without disrupting operations.
• Risk and Compliance Framework Adjustments: Including adjustments to risk management frameworks (RMFs), compliance monitoring programs (CMPs), compliance management frameworks (CMFs), and other core procedures and policies to align them with:
• new business goals
• regulatory changes
• changes in your operations
• evolving market conditions
• changes in stakeholders’ risk appetites (your banking partners, insurance companies, liquidity providers, etc.).

 

 

Risk and Compliance Obligations for P2P Lending ACL Holders

P2P lending ACL holders are subject to various obligations set out in applicable laws and regulations. They are also expected to uphold standards for their conduct and internal operations, as outlined in regulatory guidance or accepted industry practices.

We can help you address these obligations and expectations through comprehensive support in the different areas. The list below is not exhaustive:

P2P Lending Platform’s ACL and Regulatory Compliance Obligations

• Compliance Management Systems: We can help you establish effective compliance programs, compliance monitoring plans, controls testing methodologies, compliance calendars and more (as required under RG 104).
• Risk Management Frameworks: We can help you develop comprehensive risk management frameworks to fulfil ASIC regulated P2P lending platforms’ obligations for identifying, assessing, and mitigating operational, regulatory, strategic, financial and other types of risks
• Policy and Procedure Development: We can help you draft and implement policies and procedures aligned with the Australian P2P lending platforms' licensing requirements.
• Compliance Monitoring Plans: We can oversee the execution of your CMPs, covering ongoing monitoring of your compliance obligations under the ACL framework for P2P lending platforms.
• Internal Control Testing and Compliance Assurance: We can conduct internal reviews and audits of your controls to test their effectiveness and compliance with the applicable regulatory standards.
• Capital Adequacy Requirements: We can help you implement controls to comply with capital adequacy requirements, helping your businesses meet ASIC regulated P2P lending platforms' obligations for maintaining required financial resources (as required under RG 166).
• Financial Auditing Standards: We can assist in establishing procedures to help you comply with the audit and assurance requirements under the ACL framework for P2P lending platforms.
• Digital Payment Token Services: We can assist in developing controls to comply with regulations for digital payment tokens, cryptocurrencies, and digital assets, including obligations under the ACL framework for P2P lending platforms and AML/CFT requirements for transaction monitoring and reporting (see Information Sheet 225 (INFO 225) for more).
• Credit Intermediation and ACL Licensing Risk: We can help you prepare controls and procedures to manage credit licensing risks where your platform activities may fall within the scope of credit assistance under the National Consumer Credit Protection Act 2009 (as may be required under RG 203 and RG 209).

 

P2P Lending Platform’s ACL and Operational Oversight Obligations

• Oversight of Outsourcing: We can establish a set of effective controls to comply with Australian P2P lending platforms’ licensing obligations for overseeing outsourced services (as required under RG 104 and RG 105), also covering related obligations under AML/CTF compliance, ISO requirements, and more.
• Structures for Governance: We can help you establish effective governance structures to comply with ASIC regulated P2P lending platforms' obligations and develop an effective approach to overseeing your risk exposure and compliance status across different functions of your business.
• Senior Management Accountability: We can help you comply with ASIC regulated P2P lending platforms’ obligations for senior management and key staff conduct and competence.
• Maintaining Operational Resilience: We assist in developing continuity plans to meet ASIC regulated P2P lending platforms’ obligations for operational resilience, helping critical business services withstand disruptions (as required under ASIC Report 708 and other publications).
• Managing Technology Risks: We provide guidance on technology risk management obligations under the ACL framework for P2P lending platforms.
• Platform Access and Due Diligence on Borrowers: We can help you develop onboarding, due diligence, and monitoring controls for businesses or issuers raising funds through your platform, including AML/CTF obligations, background checks, and suitability assessments.
• Dual-Sided Platform Conflict Controls: We can help you develop documented procedures to identify and oversee conflicts of interest where your platform facilitates both lending and borrowing activity (as required under RG 104).
• Contract Structure and Licensing Exposure: We can help you assess your lending structure and document controls where nominee, trust-based, or custodial arrangements may trigger additional ACL or AFSL authorisations (as required under RG 132 and Corporations Act).

 

ASIC Regulated P2P Lending Platforms and Market Integrity/Transparency Requirements

• Principles for Fair Treatment: We can help you implement controls to comply with expectations that cover adherence to principles of fair treatment and transparent communications with clients.
• Standards for Conduct and Disclosure: We can help you comply with Australian P2P lending platforms’ licensing standards for conduct and disclosure.
• Product Suitability and Governance: We can establish tailored controls to help licensed P2P lending platforms comply with product suitability obligations.
• Protection of Client Assets: Where escrow is outsourced or not in scope, we can help you comply with Australian P2P lending platforms' licensing obligations to protect and segregate client assets.
• Resolution of Disputes: We can help you establish effective mechanisms for dispute resolution and complaints management, particularly for retail clients (as required under RG 271).
• Advertising and Communications Oversight: We can help you develop controls for your marketing and promotional materials to ensure compliance with restrictions on advertising P2P lending offers, including social media monitoring and fair representation of investment risks.

 

 

P2P Lending Platform’s ACL and Resource Management Obligations

We can help you comply with the following requirements of the ACL framework for P2P lending platforms:

• Adequacy of Resources: Covering financial, technological, human and other resources.
• Competence of Professionals: Covering key personnel, their necessary skills, knowledge, and professional competence.
• Our focus areas include:

• Assessment and Gap Analysis: We can help you evaluate the adequacy of your financial, technological, and human resources against the requirements of the licensing regime.
• Resource Allocation Plans: We can help you develop strategies to optimise resource allocation, covering sufficient capacity for compliance, operations, banking, customer support and other functions and departments.
• Technological Solutions: We can recommend and implement RegTech tools to streamline compliance processes, such as transaction monitoring, reporting, and audit trails.
• Staff Vetting and Rescreening: We can help you develop a framework for vetting and rescreening staff in line with the requirements of the licensing regime, AML/CFT laws, and other applicable regulations, with checks calibrated to the level of risk and responsibility associated with each role.
• Key Personnel Assessment: We can help you assess key personnel's skills, qualifications, and experience to identify areas for improvement.
• Training and Development Programs: We can design and deliver targeted compliance training programs to upskill personnel in compliance, risk management, and P2P lending regulations.
• Compliance Monitoring: We can help develop controls to monitor representatives' adherence to conduct and disclosure obligations.
• Ongoing Training: We can help you create a framework to support continuous education for advisors and representatives on licensing obligations, market integrity, and client interaction standards.
• Regulator Liaison: We can act as an intermediary with regulators to address queries and help you demonstrate compliance with resourcing obligations.
• Investment Cap and Transaction Limits Controls: We can help you implement automated and manual controls to monitor investor contribution limits, deal caps, and maximum investment thresholds required by the licensing regime.
• Custodial Triggers: We can help you assess your platform structure and prepare controls to address obligations around pooled funds or trustee arrangements (as required under RG 132 and Corporations Act s601ED).

 

ASIC Regulated P2P Lending Platforms and Reporting

• Regulatory Reporting: We can help you prepare and submit periodic and ad-hoc reports covering:
  •  Australian P2P lending platforms' licensing obligations, including those under the RG 78.
  • Australian P2P lending platforms' AML/CTF obligations (SMRs, cross-border transaction reports (IFTIs), cash transaction reports TTRS, and other reporting obligations)
  • ASIC-regulated P2P lending platforms' obligations under financial market regulations
• Compliance Documentation: We can help you develop and maintain the necessary documentation to meet record-keeping obligations under various laws and regulations.
• Audit Readiness: We can prepare you for audits and reviews to demonstrate compliance with regulatory requirements, provisions of the ACL framework for P2P lending platforms, applicable operational standards, and more.

 

Related Licensing Solutions

We can help you apply for the P2P lending ACL equivalents in the following jurisdictions:

• New Zealand: For more information on the New Zealand equivalent of the P2P lending ACL – FMA Licence for P2P Lending Services, as well as Financial Service Provider (FSP) registration for non-retail P2P lending services, you can visit our New Zealand P2P Lender Licence page.
• United Kingdom: For more information on the United Kingdom P2P lending ACL equivalent – FCA Authorisation for Regulated P2P Lending Services, you can visit our FCA Authorisation page.
• Singapore: For more information on the Singaporean P2P lending ACL equivalent, the Capital Markets Services (CMS) Licence for P2P lending services, please visit our Singapore P2P Lending Platform Licence page.
• Other Jurisdictions: We also offer licensing solutions for P2P lending platforms and service operators in prominent financial centres and offshore tax havens, including but not limited to:

• Cayman Islands - CIMA Registration
• Bermuda - Digital Asset Business Licensing
• Gibraltar - DLT Provider Licensing
• Isle of Man - Financial Services Licensing
• Malta - Financial Institution Authorisation