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Solvar Limited (ASX:SVR)

ALERT: Price-sensitive ASX Announcement for SVR
Current share price for SVR : $1.560 -0.01 (-0.64%)+
Announcement
Release
27 Apr 2026 11:22AM
Price at Release
$1.570
Full Release
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Summary
Solvar Limited has announced the conclusion of a matter with the Australian Securities and Investments Commission (ASIC), with the Federal Court of Australia imposing a $1.55 million penalty on its subsidiary, Money3 Loans Pty Ltd, for limited contraventions of the National Consumer Credit Act from 2019 to 2021. Since then, Money3 has enhanced its governance and operational practices. Solvar Limited, a leading finance provider in Australia and New Zealand, continues to focus on offering financial solutions to underserved consumers, particularly in the used vehicle market.
Key Points
  • Conclusion of ASIC matter announced by Solvar Limited.
  • Federal Court of Australia ordered Money3 Loans Pty Ltd to pay a penalty of $1.55 million.
  • Penalty relates to contraventions of the National Consumer Credit Act between 2019 and 2021.
  • Solvar Limited is a market-leading consumer and commercial finance company in Australia and New Zealand.
  • Money3 has improved governance, complaints handling, hardship, and underwriting practices since the period in question.
  • Solvar Limited aims to provide finance for underserviced consumers, particularly for used vehicles.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.