The Australian Securities and Investments Commission's focus on consumer credit will see the agency target advertising; responsible lending; loan fraud; general licence obligations relating to conflicts of interest; and property investment and lending through self-managed superannuation funds.Peter Kell, ASIC's deputy chairman, told the Mortgage and Finance Association of Australia that the agency had also started looking at online and mobile channels. "Over time our focus on advertising has also taken into account the insights of behavioural economics about how consumers make decisions," he added.A second area of focus for ASIC is responsible lending, one of the central obligations under the national consumer credit regime.Kell said ASIC's next report on responsible lending conduct would focus on 'low doc' home loans. "This report follows on from our earlier reviews of credit assistance providers' responsible lending conduct," he told the MFAA delegates.He also warned that ASIC had no tolerance where compliance guidelines were not being followed, such as where a licensee or broker deliberately breached responsible lending obligations or failed to make sufficient effort to comply. ASIC has banned 42 persons (19 permanently) since the introduction of the National Credit Act, Kell said. Almost half of these bans relate to falsified documents being submitted to lenders. "We have also recently been successful in obtaining several criminal convictions for loan fraud, which indicates the seriousness of this activity. There are more such matters in the pipeline, as we send the message that loan fraud is unacceptable," he said.Self-managed superannuation funds are also back in ASIC's sights. "To date, our focus on SMSFs has primarily been on the financial advice given to consumers about the establishment of an SMSF or the investments to be made by the SMSF," Kell said."However, we have recently started taking a closer look at potential risks associated with one-stop shop business models that provide advice on and assist in establishing SMSFs; sourcing and purchasing of investment properties; and obtaining finance for the property purchase," he told the MFAA audience.