On Nov. 16, ASIC issued guidance on financial services credit panel.
On matters to be referred to sitting panels of FSCP and the hearing procedures.
Role
FSCP will decide if ASIC will make banning order on individuals, for misconduct.
During course of providing retail financial services, engaging in credit activities.
Where matter merits peer review, due to its significance, complexity or novelty.
Background
RG 263 should be read in conjunction with regulatory guide, information sheets.
Published on administrative decision-making, financial services provisions of the Corporations Act 2001, and also, National Consumer Credit Protection Act 2009.
