Australian Broker forum is the place for positive industry interaction and welcomes your professional and informed opinion.

ASIC flags concerns in aggregator review

Notify me of new replies via email
Australian Broker | 14 Mar 2013, 07:00 AM Agree 0
ASIC is making significant changes to credit licensees' practices for ensuring broker compliance following a recent review
  • Patrick | 14 Mar 2013, 10:43 AM Agree 0
    Thanks for the help Peter, we look forward to increased aggregator fees as they duplicate compliance red tape.
  • Lou Stergio | 26 Mar 2013, 03:33 PM Agree 0
    The legislators these days formulate credit laws with significant industry input. Thankfully!

    e.g. under current NCCP the legislators rightly included the "scaled down" level of broker inquiry clause to reduce the red-tape for simple products like credit cards.

    It is up to us in the industry (and up to the MFAA/ FBAA and lenders) to ensure that ASIC both reduces the red-tape and gets the risks right regarding low-doc loans.
Post a reply