More shackles for OZschwits biz: ASIC's powers to include credit code

HERE comes the super regulator, with the chief corporate plod, Tony D'Aloisio, soon swinging the biggest stick in Australian corporate history.

This year the Australian Securities and Investments Commission starts enforcing responsibilities under a national uniform consumer credit code, the first of two new enforcement powers handed to ASIC.

The credit code will cover all consumer lending, including the provision of credit cards, store cards and home loans. And for the first time ASIC will also be responsible for regulating margin lenders, including a requirement for investors to receive a detailed product disclosure statement before taking out a margin loan.

LNK

More shackles for OZschwits biz: ASIC's powers to include credit code

More shackles for OZschwits biz: ASIC's powers to include credit code

Anarcho-Capitalist Categorical Imperatives

AnCaps' Laissez-faire Free Trade Zone