Automotive Holdings Group Limited
(ASX:AHG) has announced the corporate watchdog's new ban on 'flex commissions' will not materially impact the group's commission earnings.
It comes as the Australian Securities and Investments Commission (ASIC) announced it would prohibit ‘flex commissions', or loans that are charged at an 'unfair' rate.
Australia's largest motoring group retailer says ASIC's ban was largely anticipated.
However, the company will discuss the change with its lenders, to see how they will set their pricing and adjust their processes, and also see how dealerships integrate the adjustments.
Automotive Holdings Group Limited
(ASX:AHG) reported a net profit $43.9 million for the half 2016 financial year.
