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Showing 51 - 60 of 91 results for "Credit Act"

ASIC suspends advice group AFSL

ELIZABETH MCARTHUR  |  THURSDAY, 2 MAY 2019
ASIC has suspended the Australian financial services licence of a Sydney-based financial advice group. Australasia Wealth Services and Management failed to obtain membership of the Australian Financial Complaints Authority (AFCA), therefore breaching ...

ASIC strips Melbourne firm of AFSL

KANIKA SOOD  |  MONDAY, 3 DEC 2018
The corporate regulator has cancelled the AFSL of a Melbourne-based firm that previously copped a $9 million fine for offering personal loans with the proviso customers implement financial advice from the firm. Financial Circle's Australian financial ...

ASIC bans Perth adviser

KANIKA SOOD  |  THURSDAY, 15 NOV 2018
ASIC has banned a Perth-based adviser after a court found he stole more than $100,000 of superannuation money from his clients. Craig James Wilson was employed by an advice firm that was a representative of the Westpac-controlled licensee Securitor ...

Melbourne AFSL pays $9 million in fines

KANIKA SOOD  |  MONDAY, 5 NOV 2018
A Melbourne company has copped about $9 million in penalties after ASIC found it offered personal loans with the proviso customers implement financial advice from the firm. Financial Circle offered personal loans to consumers of up to $5000. However ...

Unlicensed financial adviser banned

JAMIE WILLIAMSON  |  TUESDAY, 18 SEP 2018
ASIC has permanently banned an unlicensed financial adviser found guilty of aiding and abetting a financial services firm that was also unlicensed. Following more than six years of work by the regulator, former Investment Intelligence Corporation director ...

Former NAB adviser permanently banned

HARRISON WORLEY  |  FRIDAY, 8 JUN 2018
ASIC has permanently banned a former NAB financial adviser after it found he acted dishonestly and was not of good character. Max Kiattisak Eung, who also goes by Kiattisak Eungpongpan, has been banned by the regulator as it continues to investigate ...

Royal Commission could lead to credit crunch: UBS

ALEX BURKE  |  WEDNESDAY, 28 MAR 2018
... boards and management will move further to tighten underwriting standards to ensure they fully comply with the National Credit Act regarding responsible lending," the report said.

ASIC successfully files injunction against Melbourne advice provider

JAMIE WILLIAMSON  |  MONDAY, 15 JAN 2018
A Melbourne financial services firm is prohibited from operating while proceedings brought by ASIC continue in the Federal Court. ASIC commenced proceedings against Financial Circle Pty Ltd in December 2017, alleging the business was offering loans ...

DomaCom and ASIC reach agreement on retirement products

JAMIE WILLIAMSON  |  WEDNESDAY, 13 SEP 2017
... clients will be required to obtain legal advice and comply with other provisions currently applicable under the National Credit Act. Retirees will be protected, with the DomaCom SER product providing security that they can remain in their home as long ...

Australian property love affair cannot please everyone

BENJAMIN ONG  |  FRIDAY, 30 JUN 2017
The just-released RBA Financial Aggregates report for May show that Australia's credit state of affairs continues. Total private sector credit growth inched up from 4.9% in the year to April to 5% last month. While this put a stop to the four straight ...