January 22, 2018 / 10:56 PM / a month ago

BRIEF-Thorn Group Ltd Says It Reached Settlement With Australian Securities And Investments Commission

Jan 23 (Reuters) - Thorn Group Ltd:

* REACHED SETTLEMENT WITH AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION

* CIVIL PENALTY OF $2 MILLION WILL BE PAYABLE, SUBJECT TO FINAL DECISION OF FEDERAL COURT OF AUSTRALIA

* ‍TAPL HAS OFFERED, AND ASIC HAS ACCEPTED, AN ENFORCEABLE UNDERTAKING​

* ‍TOTAL REMEDIATION WILL BE ABOUT $6.1 MILLION​

* SETTLEMENT IN RESPECT OF HISTORIC BREACHES OF ITS RESPONSIBLE LENDING OBLIGATIONS IN ITS CONSUMER LEASING DIVISION Source text for Eikon: Further company coverage:

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