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ASIC serious about compliance: QED Risk

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Australian Broker | 22 Mar 2011, 06:00 AM Agree 0
ASIC should not be underestimated as a "friendly giant", and is currently active in the industry pursuing surveillance and enforcement actions
  • countrybroker | 22 Mar 2011, 01:43 PM Agree 0
    Ok ASIC are in the field doing compliance work, that is what they are there for, our industry needs to be cleaned up. It is really very simple, do what the regulations say to do, get the information and fact finds done , and on file as well as the broker contracts/ credit advice as per the MFAA document , DO NOT cut corners, have all your assessments in file and you will comply, cut corners and you do not deserve to be in the industry. The only people who are going to get burnt are those who are activley not complying, it is that simple. If you do not want to be a person who complies either get out or become a credit representative and then comply anyway !
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