October 18, 2016
The Blow Torch is Turned Up Against Pre-Insolvency Advisors
In our last Hot Topics update, we highlighted the recent raids on Pre-Insolvency advisors by the Corporate regulator, the ATO and the Australian Federal Police.
Now the issue has gained even greater prominence with an incredible story aired on ABC’s 7.30 Report.
ASIC Commissioner John Price says of Unregulated and Unlicensed Pre-Insolvency advisers,
“ You don’t need any particular qualifications or education before you start a business as a Pre-Insolvency advisor so my message to people is quite simple – if you’re dealing with a Pre-Insolvency advisor be very careful who you’re talking to”.
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