NSW Help with Taking Legal Action Against a Scam?

[Michael Wilkinson]

Is anyone up on the legal responsibility of a licenced finance broker, authorised representative?

I have a very twisted tale to tell of a scam and need help before taking action.

thanks

 

[Rob Legat - SBPL]

I have experience in the regulatory requirements and licensing aspects under the National Consumer Credit Protection Act (which includes credit assistance licensees and authorised representatives).

 

[Michael Wilkinson]

I have experience in the regulatory requirements and licensing aspects under the National Consumer Credit Protection Act (which includes credit assistance licensees and authorised representatives).

Hi, and thanks for your prompt reply, unfortunately this is a commercial scam, not under the NCCP. which is the big problem - as the broker is saying they have no responsibility over the authorised representative working in their offices and using there name in emails etc.

 

[Michael Wilkinson]

I have experience in the regulatory requirements and licensing aspects under the National Consumer Credit Protection Act (which includes credit assistance licensees and authorised representatives).

Hi, and thanks for your prompt reply, unfortunately this is a commercial scam, not under the NCCP. which is the big problem - as the broker is saying they have no responsibility over the authorised representative working in their offices and using there name in emails etc.

 

[Rob Legat - SBPL]

If they are an authorised credit representative, a licensee will be responsible.
If they are working out of a licensee's office, the licensee could be responsible for not properly authorising them.

If someone is falsely using a representative's details, the licensee may not be responsible at all. However, as you've said they're working out of their office I think the situation will lead back to one of the first two sentences.

 

[Michael Wilkinson]

I appreciate the help - there is a lot of money involved. 2 of us are aware of each other via a joint venture agreement which has been drawn up with very misleading information in it. Not sure how many other are hurt.

Regards