What does ASIC really do? Same question asked by Pierpoint re forerunner ASC in 1995. We are still scratching our heads?
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Regulatory Guide RG 209 Credit licensing: Responsible lending ...asic.gov.au/asic/pdflib.nsf/LookupByFileName/.../rg209-310311.pdfFile Format: PDF/Adobe Acrobat - Quick View
31 Mar 2011 – REGULATORY GUIDE 209. Credit licensing: Responsible lending conduct. March 2011. About this guide. This is a guide for credit licensees, ... -
[PDF] Report REP 262 Review of credit assistance providers' responsible ...www.asic.gov.au/asic/.../rep262-published-17-November-2011.pdfFile Format: PDF/Adobe Acrobat - Quick View
17 Nov 2011 – In administering legislation ASIC issues the following types of regulatory .... Credit assistance provider's responsible lending guidelines ... -
11-67AD ASIC updates guidance on responsible lending obligations
www.asic.gov.au/asic/asic.../11-67AD+ASIC+updates+guidance+on+...Cached
31 Mar 2011 – ASIC has updated Regulatory Guide 209 Credit licensing: Responsible lending conduct (RG 209). The updated regulatory guide provides ...
Last modified on Tuesday, 16 October 2012
These rules and regulations are impotent and therefore useless starting with this reason:
For these laws to be of value ASIC must enjoy and practice enforcement of law. ASIC's oft noted practice since 1998 has been demonstrated as having a special liking to handing out parking fines rather than significant punishment. In fact it was Pierpoint that asked "what does ASC really do?" Its a brilliant article dated 1996 and ASC was of course the forerunner to ASIC.
I will Blog the rest of this argument. And thank you for bringing up these points.
2. ASIC was further criticized as having "decriminalised that which Parliament deemed as criminal."
Denise L Brailey 2012