A top broker has argued that NCCP documents are in need of a revamp to make them more practical.
MPA Top 100 Broker Justin Doobov of Intelligent Finance told Australian BrokerNews he is working to "streamline" compliance requirements into his business in 2012, but has urged ASIC to follow suit and simplify its required documentation.
“We are hoping that ASIC revamps the documentation requirements of the NCCP and consolidates the amount of separate papers we have to give a client," Doobov said.
With the NCCP regime becoming more familiar, Doobov said the time is ripe for ASIC to rethink its documentation.
"While I can see that the government and ASIC had good intentions when they introduced the NCCP, I think now is the time for ASIC to revamp the requirements to make the delivery of it more practical,” he said.
Doobov said some of the pressure of the regime may be taken off by his business’ new software platform.
“We have already moved onto a new software platform and we are hoping that over the next six months this software evolves to allow us to run our whole business on it.”