ASIC has banned Todd Erwin Butler, a former Sydney based St George Bank employee, from providing financial services and engaging in credit activity for five years. ASIC’s investigation found that Mr Butler wrote 44 valueless cheques from his personal account over a five year period, from 2012 to 2017, totalling just over $410,000. Mr Butler …
ASIC bans former St George Bank employee for five years Read More »
Unauthorised firm – Acceptrade Address: 1-2 Broadgate , London, EC2M 2QS Nancy whiticker house 7 Old street Roseau Dominica Telephone: +4 42039360576/ 02039911150/ 01614514835 Email: [email protected], [email protected] Website: www.acceptrade.com Be aware that some firms may give out other details or change their contact details over time to new email addresses, telephone numbers or physical addresses.
On 1 October 2020, the Federal Court of Australia ordered that Australia and New Zealand Banking Group Limited (ANZ) pay $10 million in penalties after finding that ANZ engaged in unconscionable conduct and breached its obligations as a financial services licensee. Between August 2003 and September 2015, ANZ charged certain fees to personal and business …
ANZ to pay $10 million penalty for unconscionable conduct over periodic payment fees Read More »
Unauthorised firm – Friends & Pro Loans Address: UNITED KINGDOM Telephone: 7447388441 Fax: An [email protected] Email: [email protected] Website: https://friendsproloans.wixsite.com/finance/ Be aware that some firms may give out other details or change their contact details over time to new email addresses, telephone numbers or physical addresses.
Unauthorised firm – IFOREX24 Ltd Address: 3 Ajeltake Road, Ajeltake Island, Majuro, MARSHALLS ISLAND, MH 96960 Telephone: 2037696160 Email: [email protected] Website: www.iforex24h.com Be aware that some firms may give out other details or change their contact details over time to new email addresses, telephone numbers or physical addresses.
ASIC has commenced proceedings in the Federal Court against Cigno Pty Ltd (Cigno) and BHF Solutions Pty Ltd (BHF Solutions) for alleged contraventions of the National Consumer Credit Protection Act 2009 (National Credit Act). BHF Solutions and Cigno operate a lending model that provides small amounts of credit to a large number of consumers and …
ASIC has modified the Corporations Act to prevent stub equity offers of scrip in a proprietary company being made to large numbers of retail target holders in takeover bids and schemes of arrangement. The modification follows ASIC consultation on proposals to address concerns with offers of stub equity to retail investors in control transactions (19-127MR). …
A recent ASIC surveillance has found that fund managers must do more to ensure their products are ‘true to label’ – that the product name aligns with the underlying assets. ASIC undertook a targeted surveillance of 37 managed funds operated by 20 responsible entities that collectively hold approximately $21 billion in assets. This followed ASIC …
The Federal Court of Australia has found that Rent 2 Own Cars Australia Pty Ltd (R2O Cars) failed to comply with the National Consumer Credit Protection Act 2009, including by charging some consumers an interest rate of more than 48% per annum when purchasing used cars. R2O Cars provided credit for the purchase of used …
ASIC has obtained interim orders in the Federal Court of Australia against companies in the Mayfair 101 group and their director, James Peter Mawhinney, including the appointment of provisional liquidators to M101 Nominees Pty Ltd, the issuer of the M Core Fixed Income Notes promoted by Mayfair 101. On 13 August 2020, the Court appointed …
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