Australian Institute of Professional Brokers

Information sessions for Industry about the new Consumer Credit Regime

ASIC is hosting a National Roadshow about the new National Consumer Credit regime. Designed to assist industry understand their requirements under the new National Consumer Credit Protection Act, the Roadshow will visit every state capital and territory and 24 regional centres. ASIC is providing this face-to-face opportunity for industry to hear about how the legal requirements have changed and how people can best prepare. The Roadshow will look at the necessary steps that need to be taken to initially register for an Australian Credit Licence, one of the main components of the new regime, prior to the commencement of the new National Consumer Credit Regime in July 2010.

The application process for registration which takes place between 1 April and 30 June 2010 will be outlined and importantly, the steps that people must take in advance of registering for a licence will be explained.

Common questions such as who needs to be licensed and what credit activities the new regime will encompass will be addressed together with other important information about ASIC's regulatory guidance for the reforms.  Information packs will be available for those in attendance, with any specific questions to be answered at the conclusion of each session.

The schedule for the roadshows is now finalised and you can view this timetable on our website at

http://www.asic.gov.au/asic/asic.nsf/byheadline/Credit-roadshows?openDocument.

 I have included below further details including who should attend and how to rsvp for a session.

These details are for you to share with your members, clients, colleagues and other stakeholders as appropriate. ASIC is keen to to work with you to provide relevant information to your industry group to communicate the changes to the regulation of credit and assist industry stakeholders to comply with the changes.