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Showing 11 - 20 of 43 results for "Australian Credit Licence"

ASIC cancels AFSLs

ANNABELLE DICKSON  |  TUESDAY, 25 MAY 2021
... within 45 days of the scheduled date which are required under the AFSL and led to the cancellation of its Australian credit licence (ACL). Direct My Wealth also failed to maintain its membership with AFCA. "Under the Corporations Act 2001 and National ...

ASIC cracks down on investment guru

ELIZABETH MCARTHUR  |  TUESDAY, 11 MAY 2021
A self-styled investment guru and social media wealth expert has had her Australian credit licence cancelled by ASIC. Dominique Grubisa lost her licence for her company Master Wealth Control on the basis that the business was not engaging in the credit ...

ASIC faces cybersecurity attack

KARREN VERGARA  |  WEDNESDAY, 27 JAN 2021
... the incident involved unauthorised access to a server that contained documents associated with recent Australian credit licence applications. The server provider, Accellion, is a US software firm that facilitates cloud-based file sharing and collaboration. ...

NAB to pay $15m for Royal Commission case study

ELIZABETH MCARTHUR  |  MONDAY, 19 OCT 2020
... prohibits credit licensees from conducting business with persons engaging in credit activity without an Australian credit licence. The Federal Court found that NAB had breached the act by using "introducers" who did not have a licence. These introducers ...

Responsible lending laws to be revoked

ANNABELLE DICKSON  |  FRIDAY, 25 SEP 2020
... introduced protection measures for consumers from debt management firms as they will have to obtain an Australian credit licence when they are being paid by consumers to represent them in disputes with creditors. Consumer finance advocates slam the removal ...

Brisbane broker permanently banned

ALLY SELBY  |  TUESDAY, 11 AUG 2020
... letter of approval for a home loan. Jeffry Leonard Gordon has been barred from the industry and his Australian credit licence has been cancelled. ASIC commenced its investigation into Gordon following a tip-off from Australian Financial Complaints Authority. ...

Debt vulture crackdown welcome

ELIZABETH MCARTHUR  |  WEDNESDAY, 29 JUL 2020
... for-profit debt assistance providers do not hold a current Australian financial services (AFS) licence or Australian credit licence from ASIC, despite often appearing to provide services that require a license. Now there are suggestions debt management ...

Early access to super scheme results in permanent ban

ELIZABETH MCARTHUR  |  WEDNESDAY, 11 MAR 2020
... activities. Goldenberg and Superfunded engaged in credit activities but neither he, nor Superfunded, held an Australian credit licence or were authorised credit representatives of an Australian credit licence. ASIC found that he contravened credit legislation. ...

Credit fund launches to wholesale investors

KARREN VERGARA  |  WEDNESDAY, 22 MAY 2019
... increasing demand for credit beyond authorised deposit-taking institutions," he said. "Obtaining an Australian credit licence last year was pivotal in broadening our ability to originate our own range of credit products and subsequently new fund investment ...

ASIC suspends advice group AFSL

ELIZABETH MCARTHUR  |  THURSDAY, 2 MAY 2019
... regulator said it is yet to fulfil the financial reporting and audit obligations. AWSM also held an Australian credit licence which ASIC cancelled along with the FSL at the end of March, for failure to maintain competence to undertake credit activities ...