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ASIC muddies waters by dubbing brokers 'independent'

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Australian Broker | 05 Mar 2012, 06:00 AM Agree 0
ASIC is risking market confusion in its repeated use of the term 'independent' to describe mortgage brokers, despite this language being prohibited in broker representations to clients
  • sidbroker | 05 Mar 2012, 10:18 AM Agree 0
    Does the left hand know what the right hand is doing. Absolutely not!
  • ozboy | 05 Mar 2012, 10:43 AM Agree 0
    As clear as mud!
  • MichaelBates | 05 Mar 2012, 11:40 AM Agree 0
    I have been in business as an SME for 35 of my 54 years and have always known the stranglehold the 'pillars' have on our economy.Consequently, and since I began broking in 1999 I have proudly worn my INDEPENDENCE on my sleeve. This revelation now of the lumbering blundering policeman ASIC stepping on its own toes should be no surprise to all of us who have watched the system forever cater to the big end of town. Let us now all rejoice in our INDEPENDENCE, and may ASIC never again tell us such an important word and concept is off-limits.
    Independently Yours,
    Michael Bates
    Crown Capital
  • Broker | 05 Mar 2012, 06:32 PM Agree 0
    Clueless!
  • S S | 06 Mar 2012, 01:57 PM Agree 0
    M Bates well said !
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