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Cigno Australia and director Mark Swanepoel, BSF Solutions and director Brenton Harrison, to pay $7 million in penalties for Credit Act breaches

26-078MR

civil penalty17 Apr 2026Penalty $3.00M

Respondent

Cigno Australia

Facts

The Federal Court has ordered Cigno Australia and its director Mark Swanepoel and BSF Solutions and its director Brenton Harrison to pay a combined penalty of $7 million for engaging in credit activity without a licence and charging prohibited fees.

Outcome

ASIC civil penalty of $3,000,000 — Cigno Australia (2026-04-17), for engaging in credit activity without a licence and charging prohibited fees. In the same orders its director Mark Swanepoel was ordered to pay $500,000, BSF Solutions $3 million and its director Brenton Harrison $500,000 ($7 million combined). See the ASIC source for the full terms.

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Read the source

https://www.asic.gov.au/about-asic/news-centre/find-a-media-release/2026-releases/26-078mr-cigno-australia-and-director-mark-swanepoel-bsf-solutions-and-director-brenton-harrison-to-pay-7-million-in-penalties-for-credit-act-breaches

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