All posts tagged "product intervention"
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157Australia & NZASIC Product Intervention Order Upheld in Full Federal Court
ASIC is entitled to consider not just the characteristics of a relevant financial product, but also the particular circumstances in which it is supplied, the Court said.
July 1, 2021 -
265Australia & NZ
Targeted Product Intervention to Lead to ‘Less Regulation’: ASIC
Commissioner Sean Hughes said ASIC will only need to intervene when there are signs of harm and misconduct, emphasising the checks and balances in place.
February 23, 2021 -
279Australia & NZ
ASIC Provides Guidance on Product Design and Distribution Obligations
The new regulatory guide addresses demand from industry for ASIC guidance as it prepares for the obligations to take effect on 5 October 2021.
December 14, 2020 -
845Australia & NZ
ASIC Amends Proposed Intervention Order for Continuing Credit Contracts
The changes to the product intervention order proposed in July are to address unintended consequences identified in an earlier consultation.
November 12, 2020 -
517Australia & NZ
ASIC Commences Proceedings Against Cigno, BHF Solutions
Both companies have been providing credit to a large number of consumers and charging "substantial fees", without holding an Australian credit licence.
October 1, 2020 -
1.0KAustralia & NZ
ASIC Consults on Second Use of Product Intervention Power
ASIC names BHF Solutions and its associate, Cigno, as two companies that enter into high-cost continuing credit contracts with retail customers without a credit licence.
July 10, 2020 -
609Australia & NZ
ASIC Guidance Sets Out Scope of Product Intervention Powers
The product intervention power allows ASIC to respond to harms in the financial sector, but it must consult with affected persons before each use of the power.
June 18, 2020 -
500Australia & NZ
Australian Court Upholds ASIC Product Intervention Order
ASIC's product intervention order prohibiting payday lenders to charge additional fees under separate contracts through associates remains in force.
April 17, 2020 -
773Australia & NZ
ASIC Issues Draft Guidance on Product Design Obligations
From April 2021, design and distribution obligations will require issuers to focus on meeting consumer needs when designing, marketing and distributing financial products.
December 21, 2019 -
513Australia & NZ
Disclosure Can Contribute to Customer Harm: ASIC
Disclosure can backfire in unexpected and harmful ways and should not be relied upon by itself to drive good consumer outcomes, ASIC says in a joint report with the Dutch regulator.
October 17, 2019
