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
With an advice M&A deal taking around six months to enact, two experts have shared their tips on how buyers and sellers can avoid “deal fatigue” and prevent potential deals from collapsing.
Several financial advisers have been shortlisted in the ninth annual Women in Finance Awards 2025, to be held on 14 November.
Digital advice tools are on the rise, but licensees will need to ensure they still meet adviser obligations or potentially risk a class action if clients lose money from a rogue algorithm.
Shaw and Partners has merged with Sydney wealth manager Kennedy Partners Wealth, while Ord Minnett has hired a private wealth adviser from Morgan Stanley.
