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ASIC acts on Banksia, Provident failures

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Australian Broker | 31 Oct 2012, 06:30 AM Agree 0
ASIC is set to undertake a wholesale review of the way it regulates the debenture industry following the collapse of Banksia Financial Group and Provident Capital
  • Country Broker | 31 Oct 2012, 11:02 AM Agree 0
    As usual thios is too little too late
  • 1martym1 | 31 Oct 2012, 12:11 PM Agree 0
    These lenders have been smashed by the general slow down in development lending from the majors and the subsequent illiquid market and dropping value of the development site market. The thing I find most ironic is they have actually had access to better quality deals to lend to since the GFC (as banks tightened their policies) but with the general malaise and rates at 15% the small time developers can't make it work and cant refinace out of trouble.
  • Faud Broker | 01 Nov 2012, 02:25 PM Agree 0
    The accountancy firm that gave a clean bill of health 30 days before will be killed off and so they should. The insurance company will be paying out huge amount of damages to the investors who RELIED on the audit.
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