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Showing 1 - 10 of 26 results for "Consumer Credit Protection"

ASIC permanently bans convicted investment manager

MATTHEW WAI | TUESDAY, 2 SEP 2025

... recorded on the banned and disqualified register. Under the Corporations Act 2001 (Cth) and the National Consumer Credit Protection Act 2009 (Cth), ASIC may permanently ban a person from providing financial and credit services if they are convicted of ...

Convicted adviser banned over $2m theft

MATTHEW WAI | MONDAY, 10 FEB 2025

... appeal to the Administrative Review Tribunal for a review. Under the Corporations Act and National Consumer Credit Protection Act, ASIC may permanently ban a person from providing financial services and engaging in credit activities if they are convicted ...

Non-bank lender sued for dodging Credit Code

JAMIE WILLIAMSON | THURSDAY, 31 OCT 2024

The corporate regulator is suing Oak Capital, alleging it deliberately circumvented the National Credit Code by writing loans to companies it knew were for individuals before repossessing their homes when they couldn't repay. Oak Capital is a private ...

Former Queensland adviser struck off permanently

ANDREW MCKEAN | WEDNESDAY, 29 MAY 2024

... his lack of effort to make restitution to his victims. Under the Corporations Act and the National Consumer Credit Protection Act, ASIC may permanently ban a person from the financial services and credit industries if they are convicted of fraud.

ANZ hit with $15m penalty for misleading customers

ANDREW MCKEAN | TUESDAY, 26 SEP 2023

... them in select credit card accounts. The Court found that ANZ breached both the ASIC and the National Consumer Credit Protection Act by falsely indicating that customers could access a cash advance from funds listed as 'Available Funds' without incurring ...

Court fines ANZ for dodgy introducer program

KARREN VERGARA | MONDAY, 13 MAR 2023

ANZ has copped a $10 million penalty for its home loan referral program that breached consumer credit protection laws. The Federal Court found that the bank's Home Loan Introducer Program enabled unlicensed third parties to refer customers to ANZ for ...

ANZ told to pay $25m for 20-year failure

JAMIE WILLIAMSON | THURSDAY, 27 OCT 2022

... ruled in ASIC's favour, saying ANZ contravened the ASIC Act, the Corporations Act, and the National Consumer Credit Protection Act. It said ANZ made false or misleading representations to certain customers when it represented that it had, and would continue ...

ASIC cancels AFSLs

ANNABELLE DICKSON | TUESDAY, 25 MAY 2021

... Wealth also failed to maintain its membership with AFCA. "Under the Corporations Act 2001 and National Consumer Credit Protection Act 2009, ASIC may suspend or cancel an AFSL and ACL if the licensee is no longer providing financial services, ceases to ...

AFCA forced into rule change

ELIZABETH MCARTHUR | FRIDAY, 22 JAN 2021

... licensees regarding their authorised representatives as set out in the Corporations Act and the National Consumer Credit Protection Act. The new rules will come into effect from 13 January 2021, but complaints received before that date are still being ...

NAB to pay $15m for Royal Commission case study

ELIZABETH MCARTHUR | MONDAY, 19 OCT 2020

... revealed at the Royal Commission. ASIC brought proceedings against NAB for contravening the National Consumer Credit Protection Act, which prohibits credit licensees from conducting business with persons engaging in credit activity without an Australian ...

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Australian Unity to shed 195 roles

MATTHEW WAI

Australian Unity is reducing its workforce by 195 positions due to underperformance stemming from delays in government support for its Home Health platform and the integration of several businesses.

Count shutters limited-advice business, slips in size ranking

MATTHEW WAI

Count Financial has reportedly wound up its restricted SMSF/limited-advice service, losing some 26 advisers on the Financial Adviser Register, latest data shows.

First Super recruits head of investments from Prime Super

MATTHEW WAI

First Super has appointed a new head of investments, replacing Chris Artis, who was in the position for the past three months on an interim basis.

BMO eyes Euroz Hartleys' capital markets business

KARREN VERGARA

Euroz Hartleys confirmed it is in discussions with Canada's BMO Financial Group for a potential sale of its capital markets business for $145 million.

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