The group was accepting client referrals from a mortgage group not licenced to provide financial services
The decision comes after seven years of service at the commission
Required financial firms must sign up to the new scheme by 21 September
An ASIC report has investigated 17,000 reverse mortgages
The broker was investigated in relation to his brokering of motor vehicle finance contracts
ASIC issued three infringement notices to the company, which offers mortgage refinancing