Offences
- Misleading or deceptive conduct
- False or misleading representations
- False or misleading representations in relation to financial products that involve interests in land
- Cash price to be stated in certain circumstances
- Offering rebates, gifts, prizes etc
- Certain misleading conduct in relation to financial services
- Bait advertising
- Referral selling
- Accepting payment without intending or being able to supply as ordered
- Pyramid selling of financial products
- Unsolicited credit cards and debit cards
- Assertion of right to payment for unsolicited financial services etc.
- Assertion of right to payment for unauthorised advertisements
- Power of Court to prohibit payment or transfer of money or other property
- Examination to take place in private
- Examinee’s lawyer may attend
- Record of examination
- Giving to other persons copies of record
- Copies given subject to conditions
- ASIC may inspect books without charge
- Notice to produce books about affairs of body corporate or registered scheme
- Notice to auditors concerning information and books
- Notice to registered liquidators concerning information and books
- Notice to produce books about financial products
- Notice to produce books about financial services
- Notice to produce documents in person’s possession
- ASIC may authorise persons to require production of books, giving of information etc.
- Powers where books produced or seized
- Powers where books not produced
- Power to require person to identify property of body corporate
- ASIC may give copy of book relating to registered scheme to another person
- ASIC may give information and books in relation to Chapter 5 bodies corporate
- Acquisitions and disposals of financial products
- Acquisitions and disposals of trust property by trustee companies
- Exercise of certain powers of ASIC in relation to financial products
- Exercise of certain powers of ASIC in relation to trust property acquired or disposed of by trustee company
- Disclosures to take place in private
- Lawyer of person making disclosure may attend
- ASIC may cause prosecution to be begun
- Who may be present when hearing takes place in private
- Power to summon witnesses and take evidence
- Contempt of ASIC
- Concealing books relevant to investigation
- Legal professional privilege
- Notification of interests to ASIC
- Confidentiality
- Power to summon witnesses and take evidence
- False evidence
- Contempt of Panel
- Hearings
- Hearings
- Contempt of Disciplinary Board
- Financial Reporting Council’s information gathering powers
- Offences committed partly in and partly out of the jurisdiction
- S.12GB Offences against Subdivision D (Unconscionable conduct and consumer protection in relation to financial services)
- S.12GBCG Civil proceedings after criminal proceedings
- S.12GC Enforcement and recovery of certain fines against Subdivision D (Unconscionable conduct and consumer protection in relation to financial services)
- S.12GI Defences (Unconscionable conduct and consumer protection in relation to financial services)
- 12GLB ASIC Act Punitive orders requiring adverse publicity (Unconscionable conduct and consumer protection in relation to financial services)
- Part 3B Australian Securities and Investments Commission
- ASIC 19 Notice requiring appearance for examination (and the procedure)
- s.68 Australian Securities and Investments Commission
- s.69 Australian Securities and Investments Commission
- s.91 Australian Securities and Investments Commission
- 223 Australian Securities and Investments Commission
- 258 Australian Securities and Investments Commission
Assertion of right to payment for unauthorised advertisements
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Offence title: |
Assertion of right to payment for unauthorised advertisements |
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Act: |
12DMB Australian Securities and Investments Commission Act |
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Offence: |
(1) A person must not assert a right to payment from another person of a charge for placing, in a publication, an advertisement, for financial services, relating to: (a) the other person; or (b) the other person’s profession, business, trade or occupation; unless the person knows, or has reasonable cause to believe, that the other person authorised the placing of the advertisement. (2) A person must not send to another person an invoice or other document that: (a) states the amount of a payment, or sets out the charge for placing, in a publication, an advertisement, for financial services, relating to: i. the other person; or ii. the other person’s profession, business, trade or occupation; and (b) does not contain a warning statement that complies with the requirements set out in the regulations; unless the person knows, or has reasonable cause to believe, that the other person authorised the placing of the advertisement |
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2,000 penalty units |
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Summary/Indictable/mixed: |
Summary |
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Jurisdiction: |
Local Court |
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How committed: |
(1) Company A places an advert in a publication and charges for it, without receiving instructions to do ao; (2) As in (1) and where the invoice is missing the required warning. |
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Important note: |
Defence: (3) Subsections (1) and (2) do not apply to an advertisement that is placed in a publication published by a person who is: (a) the publisher of a publication that has an audited circulation of 10,000 copies or more per week, as confirmed by the most recent audit of the publication by a body specified in the regulations; or (b) a body corporate related to such a publisher; or (c) the Commonwealth, a State or a Territory, or an authority of the Commonwealth, a State or a Territory; or (d) a person specified in the regulations. Limitation period: 3 years |