ASIC has successfully completed the major initial licensing of consumer credit businesses as part of the transition to the new national consumer credit laws.
ASIC Commissioner, Peter Boxall, said only licensed people or businesses can carry on consumer credit activities now. ‘If you are getting credit or getting advice or assistance on credit make sure you deal with someone who has a credit licence or their authorised credit representative,’ Dr Boxall said.
Consumers who want to check if a company or individual is registered or licensed can search ASIC’s registers at www.asic.gov.au. Money tips and tools for consumers are available at www.moneysmart.gov.au.
For further information on ASIC’s credit licencing program, go to [ilink url=”http://www.asic.gov.au/asic/asic.nsf/byHeadline/11%E2%80%93147MR%20ASIC%20successfully%20completes%20credit%20licensing?opendocument”]ASIC consumer credit licensing[/ilink]