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ASIC roundup: Choosi sued for misleading customers, action against RAMS for systemic misconduct

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GRIP Montage: ASIC/Getty Images

Martina Lindberg

6 min read
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The Australian Securities & Investments Commission’s latest actions and news, June 2 – 6, 2025.

RAMS sued for systemic misconduct – June 4, 2025

Civil penalty proceedings have commenced against RAMS Financial Group for systemic misconduct in arranging home loans between June 2019 and April 2023.

According to ASIC, RAMS violated sections 31(1), 47(1)(a), (b), (d) and (e) of the Credit Act by, besides working with unlicensed referrers, failing to:  

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