Financial services

Credit providers must respond to hardship notice + assess variation request.

Credit licensees must not enter into credit contracts unsuitable for the consumer.

Issuers and distributors of retail financial products must have a Target Market Determination (TMD) and distribute consistently with it.

Brokers must act in the consumer's best interests when providing credit assistance.

AFSL + ACL holders must be members of AFCA — sole AU EDR scheme.

AFSL holders must do all things necessary to ensure financial services are provided efficiently, honestly and fairly.

BNPL captured by the NCCP Act as a regulated credit product from 10 June 2025.

AFSL holders providing financial services to retail clients must hold adequate professional indemnity insurance.

Financial Services Guide before service; Statement of Advice for personal advice.

SACC + consumer lease fee caps + responsible lending tightened post-Royal Commission.

Issuers of OTC derivatives to retail clients face product intervention orders + tightened conditions.

AFSL/ACL holders must report reportable situations within 30 calendar days of becoming aware.

AFSL holders and representatives must not accept conflicted remuneration in connection with retail financial product advice.

Offers of securities to retail investors require a prospectus or OIS lodged with ASIC.

Personal advisers must act in client's best interests + meet related obligations.

Schemes with 20+ retail members must be registered with ASIC as MIS.

Issuers + distributors of retail financial products bound by DDO from 5 October 2021.

Financial firms must acknowledge complaints within 24 hours and resolve within prescribed timeframes.

Annual percentage + comparison rate must accompany credit product ads under NCCP Regulations.

Retail financial product issuers must provide a current PDS before issuing.

Credit card limit increase offers cannot be sent without prior written consent.

Issuers and distributors must observe any product intervention order made by ASIC.

Representatives advising on financial products to retail clients must meet RG 146 training standards.

AFSL holders must authorise representatives in writing and notify ASIC of new ARs within 15 business days.

Credit providers must consider hardship notices within 21 days under s 72 NCC.

Former Queensland property developer, Ian Omar Chester has been sentenced to 9 years imprisonment for aggravated * fraud following an ASIC investigation into multiple Southeast Queensland property development companies.

ASIC has disqualified former Queensland resident Yuetu Ma (also known as Jack Ma) from managing corporations for four years arising from his role as a director of failed companies Warwick Gold Holdings Pty Ltd and Impact Gold Ltd.

Richard Evans (also known as Richard Evertz), the former chief executive officer of collapsed ASX-listed technology company Big Un Limited (Big Un), has today been convicted and sentenced in the District Court of New South Wales for communicating inside information to another person.

Fundo Loans Pty Ltd has paid a $19,800 infringement notice issued by ASIC over an allegedly misleading claim on its website that it offered ‘no credit check loans’ of up to $5,000.

The Companies Auditors Disciplinary Board ( CADB ) has suspended the registration of Brisbane company auditor Cameron Bradley, formerly a partner of PKF Brisbane Audit ( PKF Brisbane Audit ), until 30 June 2028. The suspension comes into effect on 15 September 2026.

ASIC has cancelled the registered agent status of Mr Faheem Ahmed Syed, the sole director and shareholder of AGFA Accountants Pty Ltd for breaches of ASIC’s Registered Agent Terms and Conditions.

ASIC has accepted Ross Stephen Thomson’s application for cancellation of his registration as a liquidator, after raising concerns about whether he was a fit and proper person to remain registered and whether he had adequate resources to satisfactorily perform his duties and functions as a registered liquidator.

ASIC has issued six infringement notices totalling $118,800 to trustees of three superannuation funds after identifying alleged false or misleading representations about their superannuation investment options during a review of disclosures on superannuation trustees’ websites.

ASIC has issued six infringement notices totalling $118,800 to trustees of three superannuation funds after identifying alleged false or misleading representations about their superannuation investment options during a review of disclosures on superannuation trustees’ websites.

ASIC has issued six infringement notices totalling $118,800 to trustees of three superannuation funds after identifying alleged false or misleading representations about their superannuation investment options during a review of disclosures on superannuation trustees’ websites.

The Federal Court has found that Choosi Pty Ltd misled consumers in relation to its funeral and life insurance comparison services.

ASIC has cancelled the Australian financial services (AFS) licence of NSW-based financial services provider, Redstone Capital Pty Ltd (Redstone Capital).

Former Western Australian director Joanne Pellew has been sentenced in the District Court of Western Australia for dishonestly using her position as a director and for managing a corporation while disqualified.

The Federal Court has imposed a penalty of $3.5 million against Venture 5 Group Pty Ltd (trading as CashnGo) regarding its use of, and reliance on, unfair contract terms in more than 47,000 standard form small amount credit contracts (SACCs) with consumers.

Kristian John Convery of Melbourne was today convicted and sentenced by the Melbourne Magistrates Court after pleading guilty to acting as a self-managed superannuation fund (SMSF) auditor while disqualified and falsifying audit documents.

Alexander John McCulloch, a former project manager at Beacon Minerals Limited (Beacon Minerals), has been convicted and sentenced to 12 months’ imprisonment for insider trading, to be released forthwith on a recognisance of $5,000 and to be of good behaviour for 2 years.

ASIC has cancelled the registered agent status of Financial Tuneups Pty Ltd for breaches of ASIC’s Registered Agent Terms and Conditions.

ASIC has disqualified Alan MacDonald of Bankstown, New South Wales from managing corporations for the maximum period of five years due to his involvement in the failure of the following three companies:

Fiducian Investment Management Services Limited (FIMS) has been ordered to pay a $7.3 million penalty for breaching its duty to act with care and diligence as a responsible entity and engaging in conduct liable to mislead the public.

ASIC has issued infringement notices totalling $594,000 to three companies within supply chain logistics operator Mainfreight Group for allegedly failing to lodge their financial reports for the financial year ended 31 March 2025 on time.