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UPDATED: Authority may give MFAA's disciplinary rules clout

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Australian Broker | 27 Mar 2014, 06:00 AM Agree 0
ACCC is thinking about authorising MFAA's disciplinary rules to help with enforcement and public confidence in the mortgage industry
  • Stedman | 27 Mar 2014, 10:16 AM Agree 0
    The MFFA would then have to re asses who its working for.
    Brokers would just go one further rung down the ladder.
    I would vote with my feet and shift to the only other alternative.
  • Dave Robinson | 27 Mar 2014, 11:50 AM Agree 0
    Well this would add some clout to the MFAA disciplinary area I can tell you now (having seen it in action) that it will need a major overhaul. At the moment they only report to themselves wait til ASIC monitors what they do. Anyone seen the latest report on FOS? Sounds like it might be a bit of buck passing on ASIC's behalf with a cut in funding and a lot of staff rumoured to be asked to leave this maybe a way out for them.
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