Seeking $150M penalty, ASIC says Cigno, BSF can’t rely on Piper Alderman advice

ASIC 2026-05-15 11:37 pm By Cindy Cameronne Sydney

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ASIC says payday lenders Cigno, BSF and their directors should pay $150 million in penalties, arguing a judge should not have found they were entitled to a reduced $7 million in penalties because they had relied on legal advice from Piper Alderman.