Unit of competency Outline

Date retreived
23/07/2026 12:35 AM AWST

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Conduct work within financial markets compliance framework

Conduct work within financial markets compliance framework

Unit of competency
National Code
FNSFMK416
State Code
OBR88
TGA Status
Current
DTWD Status
Approved
Current Release Number
1.00
Current Release Date
01/07/2020
View on TGA
State Implementation and Classification
Approved Date
02/10/2020
Field of Education
081101 - Banking And Finance
Original Release Date
02/10/2020
Nominal Hours
35
Description
This unit describes the skills and knowledge required to identify statutory, legislative and regulatory requirements in financial markets and relate them to individual work practices to ensure ongoing adherence to the compliance framework.It applies to individuals who to carry out work in accordance with the compliance framework applying to job roles in financial markets.No licensing, legislative, regulatory or certification requirements apply to this unit at the time of publication.
Notes
Elements and Performance Criteria
1. Identify individual compliance requirements
  • 1.1 Identify global regulatory frameworks and regulators for financial markets
  • 1.2 Assess commonalities and key differences in legal requirements for buy-side and sell-side organisations
  • 1.3 Identify regulatory requirements relevant to own job role
  • 1.4 Identify industry standards, conventions, organisational requirements and whistleblowing policies and procedures relevant to own job role
  • 1.5 Identify obligations under the organisation’s code of conduct for own job role
  • 1.6 Map compliance requirements against individual position description and work practices
2. Escalate compliance issues
  • 2.1 Identify critical steps for escalating regulatory and ethical concerns
  • 2.2 Consult with appropriate persons when there is a potential breach of regulatory requirements or a breach of organisational policies or values
  • 2.3 Escalate issues where there may be a breach of regulatory requirements or organisational policies, in accordance with organisational policies and procedures
  • 2.4 Analyse and reflect on personal efficacy in identifying and actioning compliance issues
3. Monitor and apply changes in compliance requirements to own job role
  • 3.1 Monitor changes in regulatory environment that may affect the requirements or responsibilities of own job role
  • 3.2 Access and analyse documentation relating to changes in compliance issues
  • 3.3 Undertake organisational training addressing changes in compliance requirements
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State Code National Code Title Type
BFF3 FNS51020 Diploma of Financial Markets Qualification
BHU2 FNS51022 Diploma of Financial Markets Qualification