ASIC public hearings on responsible lending

When and where are the public hearings to be held?

The hearings are being held over two days in Sydney and Melbourne.

MELBOURNE - 19 August 2019

Stamford Plaza Hotel Melbourne, Balmoral Room, 111 Little Collins Street, Melbourne

Read the transcript - Melbourne (PDF 830 KB)

SYDNEY - 12 August 2019

Wesley Conference Centre, Lyceum Room, 220 Pitt Street, Sydney

Read the transcript - Sydney (PDF 610 KB)

Purpose of the hearings

ASIC has power under both the Australian Securities and Investments Commission Act 2001 (ASIC Act) and National Consumer Credit Protection Act 2009 (the National Credit Act) to convene public hearings for the purpose of performing or exercising its functions and powers. ASIC’s functions include providing guidance on the requirements of the laws it administers – including the responsible lending obligations in Ch 3 of the National Credit Act.

On this occasion, ASIC has decided to use its hearing power to help it develop its regulatory guidance on responsible lending obligations. The application of these obligations is critical to the making of appropriate credit decisions, and we are aware that our guidance on these obligations is a matter of significant public interest.

We think public hearings will provide a useful and transparent way to robustly test with selected participants some of the main issues and views raised in the written submissions in response to Consultation Paper 309.

Who will be participating in the public hearings?

ASIC received 72 submissions in response to Consultation Paper 309 Credit Licensing: Responsible lending conduct. We have selected from the submissions some parties that we consider will be able to provide additional views and perspectives on key issues that have been raised across a range of industry and consumer stakeholders.

ASIC has contacted those parties who are invited to participate in the hearings. We will update this page with a list of participants for each hearing once the final list has been confirmed.

Participant list - MELBOURNE

Indicative time of participation Participant
9.15am Consumer Action Legal Centre
9.45am Consumer Credit Legal Services (WA)
10.15am The Melbourne Institute
10.35am LIXI Limited
11.05am Mortgage Choice
11.35am Connective
12.05pm Australian Finance Group
1.15pm Australian Financial Complaints Authority
2.00pm Auscred Ltd (Lendi)
2.35pm National Australia Bank
3.15pm Australia and New Zealand Banking Group

The role of the Commissioners

These hearings will be conducted by Deputy Chair Karen Chester and Commissioner Sean Hughes.

Participants will be called forward to speak and the hearings will be run in a timely and efficient manner. The Commissioners will not provide information at the hearing. However, Commissioners will ask questions or seek clarification from speakers to supplement their written submissions and seek comments and perspectives on issues raised in other submissions.

Public attendance

ASIC supports transparency where and whenever possible and practicable. These are public hearings open to the public and all interested parties and observers to attend. Reporting of the evidence provided is encouraged.

No questions or comments will be permitted from anyone other than the participants ASIC has invited to speak and only during their specified time allocation.


Participants will be given a specific time allocation and are encouraged to arrive at least 30 minutes prior to their appearance time.

Participants are not required to attend for the entire duration of a hearing, although they are welcome to observe other speakers should they wish to do so.

Participants have not been compelled to attend the hearing.

The hearings will be conducted with as little formality as possible. Participants will be invited to introduce themselves and make an opening statement if they wish.

ASIC requires participants to be truthful in their remarks: a person who appears at the hearing must not give information that is false or misleading in a material particular (s291 of the National Credit Act).

Recording of proceedings

An audio recording of the proceedings will be accessible on ASIC’s website. This will be live-streamed and also available for a short time after the close of the hearings.

A transcript of proceedings will be available on ASIC’s website within a reasonable time period following the hearings.

Editor’s note: media representatives may take photographs and audio/visual recordings of the opening remarks of the hearings. Media may only use audio recording devices during the hearings for notetaking purposes.

Media attendance

Members of the media may attend the hearings. It is preferable if media notify ASIC of their intention to attend prior to the hearing by contacting ASIC’s media unit:

Privacy notice: Audio recordings and transcripts

At the public hearings, ASIC will be making audio recordings of the proceedings for the purposes of:

  • live-streaming on ASIC’s website
  • publishing the audio recordings on ASIC’s website, and
  • producing and publishing transcripts on ASIC’s website.

Both attendance and speaking at the proceedings is voluntary. By speaking at the proceedings, you agree to be audio recorded for the purposes listed above. The recordings may contain your personal information. For more information about how we handle your personal information and how to complain about breaches of your privacy, refer to ASIC’s privacy policy ( If you have any concerns or queries, please contact


If you have any questions about the public hearings, please email

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Last updated: 05/09/2019 12:03