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ASIC takes Action on Payday Loan Advertising

Cash Today Pty Ltd has changed the advertising of its low value short-term loans on its website following ASIC concerns about its failure to disclose interest rates appropriately
Originally Published: 
Friday, August 17, 2012

Financial Regulators and Industry Meet

The Board of the Finance Industry Council of Australia (FICA) held talks with the APRA Chairman John Laker and Members, and ASIC Chairman Greg Medcraft and Commissioners on regulatory and other issues within the finance industry.
Originally Published: 
Thursday, August 16, 2012

ASIC Guidance on Crowd Funding

ASIC has issued guidance to promoters of ‘crowd funding’ to clarify arrangements which may be regulated by ASIC under the Corporations Act 2001 and Australian Securities and Investments Commission Act 2001.
Originally Published: 
Tuesday, August 14, 2012

Former AWB Chief Financial Officer found to have breached duties

Justice Robson found that Mr Ingelby had contravened section 180(1) of the Corporations Act 2001 (Corporations Act) and ordered that he be disqualified from managing corporations until 31 December 2012 and pay a pecuniary penalty of $10,000.
Originally Published: 
Friday, August 10, 2012

Former AWB Managing Director Found to have Breached his Duties

The Supreme Court of Victoria has ordered that Andrew Alexander Lindberg, the former Managing Director of AWB Limited (AWB), pay a pecuniary penalty of $100,000 and be disqualified from managing corporations until 14 September 2014 after finding that he breached his duties as a director of AWB.
Originally Published: 
Thursday, August 9, 2012

ASIC Consults on FOFA Reforms

ASIC has released consultation papers containing proposed guidance for two aspects of the Future of Financial Advice (FOFA) reforms – scaled advice and the best interests duty.
Originally Published: 
Thursday, August 9, 2012

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