Regulatory Alerts2025-09-03
ASIC cancels three Australian credit licences and suspends one for failing to hold AFCA membership
The Australian Securities and Investments Commission has cancelled the credit licences of APL Lending, Crown Home Loans & Finance, Mortgage Origination, and Po Hsiung Chai, while suspending APL Lending's licence for failing to maintain mandatory Australian Financial Complaints Authority membership. These enforcement actions were taken due to licensees' breaches of general conduct obligations, including failure to lodge annual compliance certificates, unpaid industry funding levies, and cessation of credit activities. Affected entities retain the right to appeal the decisions to the Administrative Review Tribunal.
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