The Finance Brokers Association of Australia (FBAA) has asked the corporate regulator to consider a single, independent register of broker conduct. The association says the register would give lenders, aggregators and potentially consumers a consistent way to check a broker’s track record.
The idea is set out in a white paper the FBAA has submitted to the Australian Securities and Investments Commission (ASIC) ahead of an industry roundtable on 16 November.
FBAA chief executive Leo Gagic (pictured) said information about individual brokers is currently spread across lenders, aggregators and industry bodies. He said the proposal would offer a national, consistent and transparent way to check broker history.
The proposal comes as brokers account for a larger share of Australia’s mortgage market, which has brought closer scrutiny of broker standards and customer outcomes. Brokers facilitated a record 81.6% of new residential home loans in the June 2026 quarter, according to MFAA data compiled by Cotality.
Gagic suggested the register could be run by one of the existing independent credit reporting bureaus, naming Equifax and Experian as possible operators.
Under the FBAA’s model, lenders and aggregators would have a more reliable way to assess individual brokers and credit representatives. Industry associations and regulators could also be given access, and consumers could see information at an appropriate level.
Gagic acknowledged that the register would need protections built in.
“Any model would need safeguards around verified conduct outcomes, privacy, procedural fairness, and the correction of inaccurate information,” he said.
The proposal also arrives as ASIC prepares to review how lenders oversee brokers, part of its 2026–27 banking priorities.
The FBAA presents the register as a way to protect the reputation of brokers who operate ethically, not as a tool to single out poor performers.
“A centralised register is less about identifying the few who do the wrong thing and more about protecting the thousands of brokers who do the right thing every single day,” Gagic said.
He said the misconduct of a small minority should not damage the reputation of the wider industry. He added that brokers, who play an important role in helping Australians access finance, deserve systems that support them and maintain public confidence.
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