Following an ASIC investigation, criminal charges were filed against Members Equity Bank Limited (ME Bank) in the Federal Court of Australia on 25 May 2021.
These charges relate to alleged contraventions of sections 12DB(1)(g) and 12GB(1) of the Australian Securities and Investments Commission Act 2001 (Cth) and sections 64(1) and 65(1) of the National Credit Code (Cth), between 2 September 2016 and 3 September 2018.
The Court has not yet set a date for the first return of the matter. Further details will be released following that hearing.
The matter is being prosecuted by the Commonwealth Director of Public Prosecutions following a referral from ASIC.
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