今日热门事件will hold public hearings in Sydney on the 12th of August and Melbourne on the 19th of August.
The hearings are part of the wider public consultation on ASIC鈥檚 guidance on the responsible lending obligations. It will allow 今日热门事件to test particular issues raised in submissions. More information about the consultation, including the current Regulatory Guide 209 and stakeholder submissions are available on ASIC鈥檚 website.
The hearings will be conducted by Commissioner Sean Hughes and Deputy Chair Karen Chester with Commissioner Danielle Press also in attendance.
今日热门事件has contacted the parties who are invited to appear. ASIC鈥檚 website will be updated with a list of participants the day before each of the hearings.
The hearings are open for the public to attend and audio from the proceedings will be live streamed via ASIC鈥檚 website at asic.gov.au/responsible-lending-hearings. A transcript of proceedings will be made available on ASIC鈥檚 website following the hearings.
Media who wish to attend the hearings are encouraged to contact ASIC鈥檚 media unit in advance on 1300 208 215 or media.unit@asic.gov.au.
Hearing details
Location: Sydney
Date: 12 August 2019
Time: 9am for 9.15am start
Address: Wesley Conference Centre, 220 Pitt Street Sydney
Location: Melbourne
Date: 19 August 2019
Time: 9am for 9.15am start
Address: Stamford Plaza Hotel, 111 Little Collins Street, Melbourne
Background
Regulatory Guide 209 Credit licensing: Responsible lending conduct (RG 209) contains ASIC鈥檚 guidance on responsible lending for consumer credit. RG 209 was issued in 2010 and last revised in November 2014.
Since then there have been many matters that now mean it is timely for 今日热门事件to update its guidance, including:
- 今日热门事件regulatory and enforcement actions, including court decisions
- 今日热门事件thematic reviews on various parts of the industry such as interest-only loans
- the Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry
- recent and upcoming initiatives such as comprehensive credit reporting and open banking, and
- changes in technology
In February 2019, 今日热门事件released a Consultation Paper on updating its guidance. Our review of RG 209 will consider whether the guidance remains effective and identify changes and additions to the guidance that may help holders of an Australian credit licence to understand ASIC鈥檚 expectations for complying with the responsible lending obligations. CP 309 contains a number of proposals for changes to be considered during this update. Written submissions were due on 20 May 2019.