Unit of competency Outline
Date retreived
22/07/2026 6:18 PM AWST
22/07/2026 6:18 PM AWST
Whilst all efforts are made to provide accurate and timely information from the relevant source/documentation, please be aware that the information supplied may not be the most current version. The accuracy of the detail has not been confirmed by the Department and therefore should not be relied upon without first confirming the contents.
Apply limits when trading
Apply limits when trading
Unit of competency
National Code
FNSFMK511
FNSFMK511
State Code
AUR26
AUR26
TGA Status
Deleted
Deleted
DTWD Status
Deleted
Deleted
State Implementation and Classification
Approved Date
16/09/2015
Field of Education
081105 - Investment And Securities
Original Release Date
16/09/2015
Nominal Hours
55
Description
This unit describes the skills and knowledge required to identify, respond to and periodically review trading limits set by an organisation.It applies to individuals who use specialised knowledge, analytical skills and systematic approaches to manage risk and implement procedures.Work functions in the occupational areas where this unit may be used are subject to regulatory requirements. Refer to the FNS Implementation Guide Companion Volume or the relevant regulator for specific guidance on requirements.
Notes
Elements and Performance Criteria
1. Identify trading limits
- 1.1 Access and accurately interpret various types of trading limits in an organisation
- 1.2 Identify organisational trading limits and incorporate in any potential transaction or position assessment
- 1.3 Constantly monitor, interpret and apply changes to organisational trading limits
2. Respond to trading limit breaches
- 2.1 Follow and comply with process for identifying and reporting potential trading breaches to relevant personnel according to organisational guidelines
- 2.2 Identify and comply with organisational process for approving limit breaches, including all communication requirements
- 2.3 Identify and comply with organisational process for dealing with inadvertent breaches, including all communication requirements
- 2.4 Manage consequences of breach according to organisational guidelines
3. Review trading limits
- 3.1 Monitor trading limits in place and compare with current trading position
- 3.2 Identify when trading limit is close to being met, and devise appropriate response
No information
No information
Replaces
| State Code | National Code | Title | Type |
|---|---|---|---|
| D4133 | FNSFMK511A | Apply limits when trading | Unit of competency |
| State Code | National Code | Title | Type |
|---|---|---|---|
| AWC2 | FNS51015 | Diploma of Financial Markets | Qualification |