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Showing 1 - 10 of 41 results for "Australian Credit Licence"

Crypto lender sentenced for false licence

CHLOE WALKER  |  FRIDAY, 18 AUG 2023
... Helio Lending (Helio) has been sentenced to a non-conviction bond for falsely claiming that it held an Australian credit licence (ACL) when it did not. In 2019, Helio falsely represented on its website that it held an ACL. At the time, Helio was neither ...

BNPL to be regulated under Credit Act

CASSANDRA BALDINI  |  MONDAY, 22 MAY 2023
... credit products," said Jones. He explained that under the plan BNPL providers will be required to hold an Australian credit licence, comply with responsible lending obligations and meet statutory dispute resolution and hardship requirements. Further ...

ASIC confirms advisers can offer home equity access guidance

ANDREW MCKEAN  |  TUESDAY, 10 JAN 2023
... Act," ASIC stated. "We consider that financial advisers can advise on the Scheme without requiring an Australian Credit Licence (ACL), notwithstanding their functional equivalence to reverse mortgages that are regulated under the National Credit Act." ...

New rules on the way for BNPL sector

JAMIE WILLIAMSON  |  TUESDAY, 22 NOV 2022
... under the Credit Act in line with credit cards and other credit products. Providers would require an Australian Credit Licence, consumers would have to be able to set their own spending limits, fee caps would be included, and an "unsuitability test" ...

ASIC bans Sterling & Freeman director

ANDREW MCKEAN  |  WEDNESDAY, 7 SEP 2022
... December 2016 and 2017. The loans were submitted through his finance broking company, which held an Australian credit licence. "ASIC's investigation found Saman was not of good fame and character and was not a fit and proper person to engage in credit ...

Cryptocurrency lender Helio charged for false credit licence claims

ANDREW MCKEAN  |  FRIDAY, 8 APR 2022
... Melbourne-based cryptocurrency lender Helio Lending has been charged with falsely claiming that it held an Australian credit licence (ACL) when it did not. Helio Lending offered cryptocurrency-backed loans to consumers, using the digital currency as ...

ASIC sues ANZ over home loan referrals

CHLOE WALKER  |  FRIDAY, 26 NOV 2021
... also alleges between November 2015 to June 2020, ANZ breached its general conduct obligations as an Australian Credit Licence holder by failing to take reasonable steps to ensure its representatives did not conduct business with unlicensed third parties ...

ASIC provides licensing update

ELIZABETH MCARTHUR  |  THURSDAY, 16 SEP 2021
ASIC has released its annual report on the number of Australian financial services licences (AFSLs) and Australian credit licences (ACLs) applied for and approved - revealing an increase in applications. The regulator revealed that between July 2020 ...

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 ...
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