The SBV will develop a fintech regulatory sandbox fintech for innovations relating credit scoring, open API and P2P lending.
March 22, 2024Deputy Chair Sarah Court said ASIC will not hesitate to step in to protect vulnerable Australians from unethical lending practices.
February 11, 2024The FSS and Korea Legal Aid Corporation will offer free legal support to victims of illegal predatory lending.
February 7, 2024The product intervention orders issued in July 2022 were to remain in force for 18 months. They will now remain in force until 1 October 2032.
January 6, 2024ASIC will target scams, digitally-enabled misconduct, predatory lending, and greenwashing, while also "closely monitoring" the use of AI.
August 30, 2023Deputy chair Sarah Court said credit providers and debt management firms that take advantage of vulnerable consumers are in ASIC's sights.
May 12, 2023ASIC warns that it will target greenwashing, predatory lending and misleading insurance pricing promises.
February 16, 2023ASIC will target greenwashing, predatory lending and crypto investment scams, along with other "enduring" priorities involving misconduct and systemic compliance failures by large FIs.
November 7, 2022A 'Consumer Credit Oversight Board' will be established as an independent authority to oversee all consumer credit activities including BNPL under a single umbrella.
August 5, 2022ASIC's orders prohibit the provision of short term credit and continuing credit contracts which involve unreasonably high fees charged to retail clients.
July 15, 2022