It’s now 3 months to go until the 1-, 3- and 6-month synthetic US dollar LIBOR settings are expected to cease after publication on Monday 30 September 2024. These are the last remaining synthetic LIBOR settings and the last remaining LIBOR settings overall. Their cessation will mark the final milestone in the transition away from LIBOR. …
Remaining synthetic US dollar LIBOR settings – 3 months to go Read More »
Ferratum Australia Pty Ltd (in liquidation) has been ordered to pay a total of $16 million in penalties by the Federal Court for numerous contraventions of the National Consumer Protection Act and the National Credit Code. The Court had earlier found that Ferratum had: entered into contracts which imposed prohibited fees and charged those fees …
Defunct payday lender penalised $16 million over prohibited fees and deficient systems Read More »
Thank you for the opportunity to appear today on behalf of ASIC. ASIC administers and enforces a broad range of legislation relating to the provision of financial products and services including credit. Our regulatory activities include law enforcement and other regulatory activities such as undertaking targeted reviews on financial products and services. The laws that …
Parliamentary Joint Committee Opening Statement, 28 June 2024 Read More »
ASIC has suspended the Australian financial services (AFS) licence of Airrails Pty Ltd (Airrails) for three months. Airrails licence suspension means it cannot provide financial services during the suspension period of 21 June 2024 to 21 September 2024. Following an administrative hearing, ASIC found that Airrails failed to lodge its annual financial statement, auditor’s report …
ASIC has cancelled the Australian financial services (AFS) licence of Guildfords Funds Management Pty Ltd (Guildfords) after ASIC found significant and systemic failures of oversight and compliance in Guildfords’ provision of financial services. ASIC has also banned for four years Dr Robert Payne—Guildford’s Responsible Manager, Key Person and sole director—from providing financial services, performing any …
ASIC cancels licence of Guildfords Funds Management Pty Ltd Read More »
ASIC has banned managing director of the Guildford group of companies, Dr Robert Payne of Brighton, Victoria, from providing financial services, performing any function involved in the carrying on of a financial services business and controlling an entity that carries on a financial services business for four years. ASIC has also cancelled the Australian Financial …
ASIC bans Guilford Funds Management director for four years Read More »
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