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Consumer credit reporting to be reviewed

Attorney-General Mark Dreyfus has marked the 10-year anniversary of the introduction of Australia’s comprehensive consumer credit reporting system by calling for a review of the scheme to see if it remains effective.

Australia , Australian , Heidi-richards , Mark-dreyfus , Australia-financial-complaints-authority , Office-of-the-australian-information , Equifax , General-mark-dreyfus , Australian-information-commissioner ,

For some homeowners, dealing with insurance companies has been more traumatic than the 2022 floods

For some homeowners, dealing with insurance companies has been more traumatic than the 2022 floods
abc.net.au - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from abc.net.au Daily Mail and Mail on Sunday newspapers.

Rocklea , Queensland , Australia , Brisbane , Australian , Dany-richardson , Paul-holmes , Scott-cunningham , Mark-leonardi , Meg-bolton , Insurance-council-of-australia , Australia-financial-complaints-authority

ASIC cancels Direct My Wealth AFSL and ACL

Print
The Australian Securities and Investments Commission (ASIC) has cancelled the Australian financial services licence (AFSL) and Australian credit licence (ACL) of Direct My Wealth for failure to lodge its 2020 audited financial accounts and annual compliance certificate.
The financial services and mortgage broker had 45 to lodge the documents, as required under its AFSL and ACL, and also failed to maintain member of the Australia Financial Complaints Authority (AFCA).
Under the
Corporations Act 2001 and
National Consumer Credit Protection Act 2009, ASIC may suspend or cancel an AFSL and ACL if the licensee was no longer providing financial services, ceased to engage in credit activities or failed to meet its legal obligations.

Australia , Australian , Investments-commission , Australia-financial-complaints-authority , National-consumer-credit-protection , Australian-securities , Direct-my-wealth , Corporations-act , National-consumer-credit-protection-act , Administrative-appeals-tribunal , Asic