6.2.3. Regulatory impact

An Authorised Person or Ancillary Service Provider must advise the AFSA immediately if it becomes aware, or has reasonable grounds to believe, that any of the following matters may have occurred or may be about to occur:

1. (a) the Authorised Person’s or Ancillary Service Provider's failure to satisfy the fit and proper requirements; or
2. (b) any matter which could have a significant adverse effect on the Authorised Person’s or Ancillary Service Provider's reputation; or
3. (c) any matter in relation to the Authorised Person or Ancillary Service Provider which could result in serious adverse financial consequences to the financial system or to other Authorised Persons or Ancillary Service Provider; or
4. (d) a significant breach of a Rule by the Authorised Person or Ancillary Service Provider, or any of its Employees; or
5. (e) a breach by the Authorised Person or Ancillary Service Provider, or any of its Employees of any requirement imposed by any applicable law by the Authorised Person or Ancillary Service Provider, or any of its Employees; or
6. (f) any proposed restructuring, merger, acquisition, reorganisation or business expansion which could have a significant impact on the Authorised Person’s or Ancillary Service Provider's risk profile or resources; or
7. (g) any significant failure in the Authorised Person’s or Ancillary Service Provider's systems or controls, including a failure reported to the Authorised Person by the Authorised Person’s or Ancillary Service Provider's Auditor; or
8. (h) any action that would result in a material change in the capital adequacy or solvency of the Authorised Person or Ancillary Service Provider; or
9. (i) non-compliance with Rules due to an emergency outside the Authorised Person’s or Ancillary Service Provider's control and the steps being taken by the Authorised Person or Ancillary Service Provider.