ASIC investigates CHOICE over One Big Switch

Australia’s corporate regulator has launched an inquiry to determine whether or not CHOICE’s decision to break into broking breaches consumer protection laws.

The Australian Securities and Investment Commission is currently looking to find out whether or not CHOICE’s involvement in the Big Bank Switch campaign means the consumer advocate needs to obtain a credit licence.

Earlier this month, the self proclaimed ‘people’s watchdog’ teamed up with One Big Switch to launch the Big Bank Switch campaign, that encourages home buyers to find a better deal on their mortgage.

Source: The Advisor