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Credit and money

National Credit Regulation

On 1 July 2010 the Australian Securities and Investment Commission (ASIC) commenced regulation of consumer credit and finance broking under the National Consumer Credit Protection Act 2009.

On 1 July 2010 the Western Australian Credit (Commonwealth Powers) Act 2010 was proclaimed, giving the Commonwealth Government power to regulate credit under a new national regime. As such, from 1 July 2010, the Department of Commerce (Consumer Protection) is no longer responsible for administering the licensing regimes under the Finance Brokers Control Act 1975, or the Credit (Administration) Act 1984.

For all queries regarding obtaining a national licence or lodging a new complaint, please refer to the ASIC National Consumer Credit Regulation homepage.

For comprehensive information and consumer advice relating to credit and finance, please visit ASIC’s MoneySmart website.