personally, and don't like to admit is as a holder of the...

personally, and don't like to admit is as a holder of the stock, but I think it's a bit mis directed to think that the issue is small because of the small number of loans being brought into question. ASIC won't institute civil penalty proceedings as a first resort, they will generally work closely with ACL holders to get remediation on the issue. generally if they don't see increased compliance then they will refer it to their compliance team who will take more significant action.

to me the issue here isn't the items that asic have raised, it's that management have handled it in a way that has caused ASIC to respond in this way.

in the scheme of NCCPA compliance issues, personally, I don't think the issues ASIC are raising is top of the list of items they are policing.

TLDR - mgmt have managed to make a small issue a really big problem and we should be questioning their credibility