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Licensees should repay customers for wrongdoing over seven years old and for payments less than $20: ASIC
ASIC has released guidance on repaying wrongly charged customers, proposing that the seven-year minimum time frame to start consumer remediation and $20 compensation limit be removed. Yesterday ASIC released a consultation paper noting that licensees should “apply best endeavours” to find and pay consumers, listing a raft of guidance on remediation and repayment. Announcing the […]
