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DDO
In its first DDO civil penalty action against a distributor of financial products, ASIC is taking Firstmac to court for allegedly breaching design and distribution obligations.
The Federal Court has ruled in favour of the regulator, finding that a non-bank lender has breached the new design and distribution provisions.
The Australian Securities & Investments Commission has published a snapshot report into small amount credit lenders’ compliance with DDO obligations.
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