Buy now, regulate later – is the buy now pay later regulatory loophole set to close? (May 2021)
Regulatory Investigations and Financial Crime Blog
The buy now, pay later (BNPL) sector enjoys a largely unregulated existence in Australia, sitting outside the scope of the National Credit Code. With increasing pressure from consumer groups and interest in the BNPL sector from international regulators, moves by the Australian Securities and Investments Commission (ASIC) to remind the BNPL sector of the soon to commence design and distribution obligations (DDO) regime may be the first step in strengthening the BNPL regulatory framework.