Day: October 3, 2023

The Australian Prudential Regulation Authority (APRA) and the Australian Securities and Investments Commission (ASIC) have published an information package to support the financial services industry in implementing the Financial Accountability Regime (FAR). The FAR imposes a strengthened responsibility and accountability framework for APRA-regulated entities in the banking, insurance and superannuation industries and their directors as …

APRA and ASIC commence joint administration of the new Financial Accountability Regime Read More »

ASIC has commenced civil penalty proceedings in the Federal Court against Cigno Australia Pty Ltd, its director Mark Swanepoel and BSF Solutions Pty Ltd and its director, Brenton James Harrison for allegedly providing credit without a licence. The Cigno Australia and BSF ‘No Upfront Charge Loan Model’ provided short-term credit to more than 100,000 consumers …

ASIC sues Cigno Australia, BSF Solutions and their directors alleging unlicensed credit activity Read More »