Login
ISCOVER
Staff Reporter
The corporate regulator has warned brokers not to use the ASIC name or logo when promoting their businesses.
To continue reading the rest of this article, please log in.
Looking for more benefits? Become a Premium Member.
Create free account to get unlimited news articles and more!
Looking for more benefits? Become a Premium Member.
The warning comes just days after the Australian Securities and Investment Commission found an Australian credit Licence holder had been using ASIC’s name and logo on their website.
According to ASIC commissioner Dr Peter Boxall, using the corporate regulator’s name and logo in conjunction with a broker’s identification requirements could cause consumers to believe the business or company is someway endorsed or approved by ASIC.
“ASIC would like to remind licensees that the correct way to inform the public that they hold a credit licence is to display the Australian credit licence number. Credit licensees must include their credit licence number in certain prescribed documents, including advertisements, from 1 April 2012. Licensees should have started the process of updating documentation which identifies them as holders of an Australian credit licence to avoid breaching the National Credit Act,” Dr Boxall said.
