Notify the regulator of changes to the licence details within the deadline
Key facts
- Human involvement
- GreenLawyer review
- How AI is used
- From board minutes, appointment and resignation letters, share transfers and address changes, list each notifiable change with its effective date, calculate the 10 business day deadline, and populate the notification data for the Regulatory Portal.
- What the lawyer must review
- The lawyer confirms each change and its effective date, decides whether a change in control or responsible manager affects the licensee’s ability to meet its obligations or needs a variation, and confirms lodgement on time.
- Written for / version
- US
Open a jurisdiction version of this task to see which instruments apply: US
Who does what
| Role | What they do |
|---|---|
| Assistance | From board minutes, appointment and resignation letters, share transfers and address changes, list each notifiable change with its effective date, calculate the 10 business day deadline, and populate the notification data for the Regulatory Portal. |
| Lawyer | The lawyer confirms each change and its effective date, decides whether a change in control or responsible manager affects the licensee’s ability to meet its obligations or needs a variation, and confirms lodgement on time. |
Checklist
- Confirm client and complaint records go only into a tool the licensee has approved for customer data, and that outputs disclose no client information beyond what the recipient needs.
- Count the 10 business days from the effective date by hand.
- Check each change against an executed document.
- Consider whether a change in control or responsible manager needs more than a notification.
Sources
These are suggested working checks. Confirm the required checking with the responsible lawyer before work starts; the checking approach does not establish permission to use AI.