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The organization regulator has established it will probably wield brand brand brand new capabilities the very first time in a bid to turn off a controversial online lender that is payday.

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The australian Securities and Investments Commission (ASIC) was given the ability to ban or change financial products where there was a risk of causing harm to consumers under laws brought in before the federal election.

Today ASIC circulated an assessment paper proposing to make use of the latest abilities against Cigno Pty Ltd as well as its Gold-Silver Standard Finance Pty that is associate Ltd.

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