Aggregated News From Investment Management Regulators

ASIC responds to lenders’ request for clarification on lending during the COVID-19 pandemic

Report/Flag

Please complete the required fields.



Lenders have written to ASIC seeking guidance on a number of matters around regulation of lending during the COVID-19 pandemic.

ASIC has responded to provide clarity on issues of hardship, responsible lending and communication.

ASIC encourages lenders to continue to work closely with their customers to develop options that provide both short-term assistance to customers experiencing difficulty due to COVID-19 and also longer-term viability post COVID-19.

Responsible lending obligations apply to new lending (i.e. new loans or an increase to a credit limit on an existing loan). These obligations do not apply, and should not be considered by lenders as a barrier to, making appropriate changes to the terms of existing loans in response to hardship situations.

Read:

Source link

Regulator Information

Abbreviation: ASIC
Jurisdiction: Australia

Recent Articles

SEC Approves Registration of First Security-Based Swap Data Repository; Sets the First Compliance Date for Regulation SBSR

The Securities and Exchange Commission today announced that it has approved the registration of its first security-based swap data repository (SDR).

Regulation for a different world

Speech by our CEO, Nikhil Rathi, delivered at Association of Foreign Banks – CEO Programme 2021 – The UK Regulatory Landscape Post-Brexit and Beyond.  Speaker: Nikhil...

Keynote speech by the Chairman of the FSMA at a high-level conference on sustainability reporting organized by the European Commission

On Wednesday, 6 May 2021, Jean-Paul Servais, Chairman of the FSMA and Vice Chair of IOSCO, gave a speech at a major conference of...

Credit Suisse Bonds / Suisse Capital Wealth Bonds (Clone of FCA authorised firms)

Fraudsters are using the details of firms we authorise to try to convince people that they work for a genuine, authorised firm. Find out...

www.myinvestmentoptions.co.uk

We believe this firm may be providing financial services or products in the UK without our authorisation. Find out why you should be wary...

Get the latest from Regulatory.News in your inbox!

×