Precedents: Financial Services Regulation
6 starting-point precedents for this area. Each one names the law it rests on and says how far AI may help.
- Precedents in this area
- 6
- Full text
- For signed-in accounts
- Newest law stated as at
- 17 October 2026
- Guidance for this area
- Tasks and AI use in Financial Services Regulation
| Precedent | Kind | Where it applies | AI use | Law stated as at |
|---|---|---|---|---|
| Reportable situation (breach) report to ASIC: assessment worksheet and completion guidePractical guide to deciding whether a reportable situation has arisen, fixing the 30-day clock and preparing every answer for the ASIC Regulatory Portal transaction, with an evidence list and the common traps. | Form | Australia | Red | 17 October 2026 |
| Client notice for AI-assisted or digital financial advicePlain-English client notice explaining how a licensee uses AI in its advice service, who is responsible, what the tools do and do not do, the type and scope of advice, human oversight, privacy and complaints. | Notice | Australia, United Kingdom (England and Wales) | Yellow | 17 October 2026 |
| AFS or credit licensee AI governance policyBoard-level policy that sets accountability, an AI inventory, risk rating, pre-deployment testing, human oversight, consumer transparency, vendor controls and incident escalation for a licensee's use of AI, aligned to the licence obligations and ASIC REP 798. | Policy | Australia, European Union | Yellow | 17 October 2026 |
| Target market determination (template with statutory checklist)Template target market determination covering product attributes, the target market, consistency reasoning, distribution conditions, review triggers and periods, distributor reporting and significant dealings, with a checklist against Corporations Act s 994B. | Other | Australia | Yellow | 17 October 2026 |
| Responsible lending unsuitability assessment record (credit providers)File record and checklist for a credit provider's assessment that a credit contract or limit increase is not unsuitable: inquiries, verification, the assessment, automated decision tools, the outcome and the consumer's right to a copy. | Checklist | Australia | Yellow | 17 October 2026 |
| Internal dispute resolution (IDR) final response letter, with delay notificationIDR response letter that deals with each issue raised, states findings and reasons, sets out the outcome and remedy, and gives AFCA rights and contact details as RG 271 requires, plus a short IDR delay notification. | Letter | Australia | Yellow | 17 October 2026 |
AI use levels: Green means AI can do most of the drafting and a lawyer reviews it. Yellow means AI helps in set ways and a lawyer checks specific points. Red means a lawyer does the work and AI stays out of the decisive steps.