ASIC Fines American Express $8M for Design & Distribution BreachAMEX

ASIC Fines American Express $8M for Design & Distribution Breaches

Posted on September 4, 2024Posted inDesign and Distribution ObligationsTags:AMEX, ASIC, Corporations Act, DDO

The Australian Securities and Investments Commission (ASIC) has announced that American Express Australia Limited (Amex) has been ordered to pay an $8 million penalty. This penalty arises from Amex’s failure to comply with its design and distribution obligations under the Corporations Act 2001 (Cth).