What is predatory lending? ASIC cracking down on credit providers engaging in predatory lending. Recent cases.

Case clarifies actions taken by AFS Licensees may constitute 'reasonable steps'.

Credit licensees should take note of ASIC's focused enforcement action against those engaging in predatory lending activities.

ASIC urges Australian Financial Service licensees and their relevant providers to ensure that all information on the Financial Advisers Register is correct.

Does your company fall within ASIC list of company types required to submit a Form 388 along with the FS70 & FS71?

Credit licensees that provide home loan services to consumers are subject to a range of compliance obligations.

AUSTRAC released new guidance in relation to the tipping off offence, in light of the changes made to the AML/CTF Act.

AFCA has published a guide outlining the way it assesses responsible lending complaints.

The CCIV regime provides an alternative to the existing managed investment scheme regime under the Corporations Act.

Financial counselling services can assist individuals or small businesses in financial difficulty to resolve problems.

The AML/CTF Amendment Act legally requires reporting entities to appoint a fit-and-proper, management-level AML/CTF Compliance Officer under strengthened governance rules.

AFCA (Australian Financial Complaints Authority) updated its funding model and fee structure to simplify the structure.

What did ASIC find in their review in relation to whether retail superannuation trustees are complying with regulations?

ACL holders must properly assess whether consumers can meet repayment obligations, before entering into loan contracts.

Court found that Money3 failed to make reasonable inquiries about the living expenses of the consumers, including failing to verify their living expenses.

All licensees who authorise representatives should consider their current monitoring practices and what can be improved.

ASIC has been regularly enforcing its powers to cancel both Australian Financial Services Licences and Australian Credit Licences where the licensee fails to commence its business within six months.

Summary of important items for AFS Licensees & limited AFS licence holders to keep in mind as they prepare for their audit.

BNPL providers who do not already hold a credit licence should start the process now.

Australian Financial Services Licensees & Credit Licensees will be individually identified on ASIC's dashboard as well as their complaint statistics.