Afterpay (ASX:APT) share price lower after responding to ASIC report // Motley Fool Australia

The Afterpay Ltd (ASX: APT) share price is trading lower on Monday after responding to a report by ASIC.

At the time of writing, the payments company’s shares are down 0.5% to $101.40.

What did Afterpay announce?

This morning Afterpay responded to the latest report from ASIC in relation to the Buy Now Pay Later (BNPL) industry.

The company notes that the report highlights ASIC’s new product intervention power and the forthcoming design and distribution obligations that will play an important role in promoting good consumer outcomes.

The report also comments that there is a significant role for industry self-regulation, with broad industry support and commitment to ensure good consumer outcomes.

Afterpay notes that this is…