Solicitors Jessica Bauers and Alanah McAliece to explain the vital role of Responsible Managers (RMs) for an Australian Financial Services Licence (AFSL). The discussion covers what an RM is, how ASIC assesses their qualifications and experience (including the 'responsible manager matrix' and RG 105), the difference in the appointment process when applying for a new license versus replacing an existing RM, their core day-to-day responsibilities, and the accountability RMs face from ASIC if they fail to actively perform their duties.