ASIC

News and articles relating to the Australian Securities and Investments Commission (ASIC).

Over $7 million in penalties for ‘fast cash’ linked to super advice

The Federal Court has ordered three companies pay penalties totalling $7,150,000 in connection to “numerous contraventions of financial services and consumer protection laws”, involving offering ‘fast cash’ linked to superannuation and insurance advice, ASIC has announced. ASIC said the companies advertised ‘fast cash’ to consumers with poor credit histories and then… Read More »Over $7 million in penalties for ‘fast cash’ linked to super advice

ASIC imposes fines for misleading lost super and survey representations

A company has paid $21,600 in fines after ASIC found it made misleading representations about superannuation. ASIC announced that Financial Choice Pty Ltd, an Australian financial services provider, had paid two ASIC infringement notice penalties, totalling $21,600. The first infringement notice was for a representation in a bulk email sent… Read More »ASIC imposes fines for misleading lost super and survey representations