The ASIC Act prohibits individuals and organisations from acting unconscionably in relation to the provision of financial products and services.

A Court may consider the following issues to determine whether a financial institution acted unconscionably in dealing with a customer:

• Whether or not the customer was able to understand any documents relating to the financial institution's supply of its financial products or services
• Whether any undue influence or pressure was exerted on the customer
• Whether the financial institution abused the knowledge it had of the customer's financial affairs or used its superior bargaining power to negotiate a deal that favoured the institution unfairly.

On the following screen there are some examples of situations where unconscionable conduct most commonly occurs.