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ASIC roundup: unconscionable conduct over account fees, and trading concerns

Montage of the Australian arms Emu and Kangaroo emblem
GRIP Montage: ASIC/Getty Images

Martina Lindberg

5 min read
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The Australian Securities & Investments Commission’s latest actions and news, September 18 – 22, 2023.

A$2.1m penalty for unconscionable conduct over fees – September 22, 2023

The National Australia Bank Ltd (NAB) had been ordered by the Federal Court to pay a A$2.1m ($1.35m) penalty for unconscionable conduct. The NAB charged periodic payment fees even though it knew that by levying them it was wrongfully overcharging its

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