ASIC suspends finance broker's credit registration
Dark Blue Fire has been banned from engaging in consumer credit activities until it complies with the obligation to become a member of an external dispute resolution (EDR) scheme, the Australian Securities and Investments Commission (ASIC) has stated.
The Sydney finance broker ceased to be a member of the Credit Ombudsman Service Limited late last year. However, membership to an approved EDR scheme is compulsory for businesses registered or licensed under the National Consumer Credit Protection Act 2009. Therefore, ASIC has suspended the broker’s credit registration until it complies.
Recommended for you
Net cash flow on AMP’s platforms saw a substantial jump in the last quarter to $740 million, while its new digital advice offering boosted flows to superannuation and investment.
Insignia Financial has provided an update on the status of its private equity bidders as an initial six-week due diligence period comes to an end.
A judge has detailed how individuals lent as much as $1.1 million each to former financial adviser Anthony Del Vecchio, only learning when they contacted his employer that nothing had ever been invested.
Having rejected the possibility of an IPO, Mason Stevens’ CEO details why the wealth platform went down the PE route and how it intends to accelerate its growth ambitions in financial advice.
