As we draw the curtains on a turbulent 2020, the broking industry heads in on what awaits them in 2021. The incoming best interests duty and other regulation and legislation changes, as well as increased broker market share are front of mind for the sector.
Anyone who was hoping for a quiet, uneventful 2020 following the aftermath of the release of the banking royal commission final report would have been disappointed. The year has thrown everything in its power at brokers, the financial services industry and Australia as a whole, as Malavika Santhebennur recaps.
On 1 November, the Consumer Data Right was expanded to include mortgage data for the first time. We take a look at how the new regime applies, what it means for brokers, and what the industry thinks about its utilisation.