ASIC is the national regulator for consumer credit and finance broking.
If a business wants to engage in credit activities from 1 July 2011, it will need a credit licence or an authorisation from a licensee. Prior to this you will need to be registered and have applied for a credit licence.
'Credit activity ' is defined in the National Consumer Credit Protection Act and includes activity relating to credit contracts, consumer leases, related mortgages and guarantees, and credit services.
The National Consumer Credit Protection Act and associated legislation and regulations, can be found on the Treasury website.
Phase two of consumer credit reforms
In 2010, the Treasury published a Green Paper setting out proposed further reforms to consumer credit legislation (proposed phase two).
Information for consumers
Information for consumers and borrowers, including tips on using credit wisely, taking control of debt and what to do if experiencing financial difficulty can be found on our MoneySmart site.
To make a complaint to ASIC about a credit product or service, read the information on How to Complain.
Search the Australian credit register
You can search and browse online registers for free to check a person's authorisations to engage in credit activities.
Browse our Professional registers for registered persons, credit representatives and credit licensees
for registered persons, credit representatives and credit licensees