The MFAA has vowed to follow up brokers who have yet to fulfill their Diploma requirements as the 30 June deadline nears.
In a communication sent to brokers, the MFAA said it will soon be contacting brokers who have not yet supplied evidence of their completed Diploma. The organisation has set down a 30 June deadline for its members to provide evidence of completing a Diploma "meeting MFAA criteria".
In spite of the warning issued to brokers, MFAA chief executive Phil Naylor told Australian BrokerNews most members are operating on schedule.
"Indications from members are that the bulk of them will have completed the Diploma by the end of April, many having taken the opportunity of the Christmas break to enrol and get started," Naylor said.
Should brokers miss the deadline, they could risk losing their MFAA accreditation.
"The board will consider the position at that time but the underlying principle will be that in order to maintain membership you must be accredited either as an MFAA Credit Adviser or MFAA Associate Credit Adviser to maintain membership. These require the attainment of the MFAA education standards as advised," Naylor said.
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