Submission to: ASIC
Joint submission from FCA and the State and Territory financial counselling associations supporting ASIC’s proposed use of its product intervention power to impose a total cost cap on the use by entities of the continuing credit exemption in the national credit laws.
The submission includes a number of case studies documenting the significant harm caused by the use of this model by BHF Solutions and its associate Cigno.
Submission to: Treasury Joint consumer group submission (led by Consumer Action Law Centre) responding to the consultation about the design of a Compensation Scheme of Last Resort. A CLSR has been the missing piece of the regulatory architecture in financial services.