ob体育 has cancelled the Australian credit licence (licence) of mortgage broker, Wealth First Lending Pty Ltd (Wealth First).
ob体育 found that Wealth First failed to:
- Have adequate arrangements in place to ensure compliance with its general conduct obligations under the National Credit Act;銆�聽
- Comply with the conditions on its licence; and銆�聽
- Lodge its annual compliance certificate.銆�
In addition, Wealth First failed to respond to a Notice issued by ob体育 requiring the company to lodge a written statement about its credits activities under s49 of the National Consumer Credit Protection Act 2009.
Wealth First has the right to appeal to the Administrative Appeals Tribunal for a review of ob体育's decision.