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 $500K

Respondent

Mark Swanepoel

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 $500,000 — Mark Swanepoel, director of Cigno Australia, for his involvement in Cigno Australia's unlicensed credit activity and other Credit Act breaches (2026-04-17). In the same orders Cigno Australia was ordered to pay $3 million, BSF Solutions $3 million and its director Brenton Harrison $500,000 ($7 million combined). See the ASIC source for the full terms.

What does this action mean for your compliance program?Hand this question to the Rules Mate AI advisor — it is already written for you. Cited answers from the live obligation, regulator and enforcement corpus.Ask the AI advisor

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

Rules Mate links to the regulator's own publication. We do not republish full decision text. Always verify the latest status against the source before acting.