Powered by MOMENTUM MEDIA
SUBSCRIBE TO OUR NEWSLETTER SIGN UP
Powered by MOMENTUM MEDIA

Website Notifications

Get notifications in real-time for staying up to date with content that matters to you.

Property investment industry could be targeted by Senate inquiry

house and coins house and coins
Katarina Taurian 4 minute read

A NSW senator is looking to launch an inquiry into the amount of regulation in the property investment industry.

Nationals Senator John Williams told The Adviser’s sister publication SMSF Adviser that he is concerned by the “stampeding” of SMSFs into property investment and intends to launch a Senate inquiry into property investment advisers.

Although the proposal is not yet finalised, Senator Williams said the inquiry should, among other things, look into the extent of regulation and oversight of the property investment industry and the extent of investment in this sector through SMSFs.

Further, it should look at the qualifications and accreditation required to provide proper and qualified advice to potential investors, and any scope for tightening these qualifications.

Advertisement
Advertisement

Mr Williams expressed concern about the lack of regulatory oversight for property investment advisers.

“I can go to my hometown tomorrow, hang a sign out the front that says ‘John Williams, property investment adviser’. I don’t need do any study, I don’t need any experience, I don’t need any licence, I have no oversight of me – that is wrong,” Mr Williams said.

“And I bet you if I was to do that, I would advise people to invest in a property that just happens to return me the greatest commission,” he added.

Mr Williams floated the idea of ASIC having regulatory oversight of advisers on property investment.

“ASIC has done a good job when it comes to financial planning regulations here, obviously, and I think they need powers to clamp down on property spruikers,” he said.

PROMOTED CONTENT


[Related: Property investors 'shackled' by new credit policy]

Property investment industry could be targeted by Senate inquiry
house and coins
TheAdviser logo

If you’re feeling overworked and overwhelmed in this fast-paced mortgage market, it’s time to make some changes, and the Business Accelerator Program can help! Tickets are on sale now. Work smarter, not harder, this year.

house and coins

 

more from the adviser
Greater Bank Newcastle Perm merger

Breaking News

Bank CEO pledges to maintain broker offering following merger

The CEO of Newcastle Permanent has said the lender will continue ...

Money jar

Breaking News

bcu launches $5k cashback offer

The customer-owned bank has released a cashback offer for new and...

RBA

Breaking News

RBA makes cash rate call as lockdown drags on

The central bank has delivered its rate decision for August as th...

cheap nba jerseys from china wholesale nba jerseys from china discount nba jerseys from china cheap nba jerseys from china wholesale nba jerseys from china discount nba jerseys from china cheap nba jerseys from china wholesale nba jerseys from china discount nba jerseys from china cheap nba jerseys from china wholesale nba jerseys from china discount nba jerseys from china cheap nba jerseys from china wholesale nba jerseys from china discount nba jerseys from china cheap nba jerseys from china wholesale nba jerseys from china discount nba jerseys from china cheap nba jerseys from china wholesale nba jerseys from china discount nba jerseys from china cheap nba jerseys from china wholesale nba jerseys from china discount nba jerseys from china cheap nba jerseys from china wholesale nba jerseys from china discount nba jerseys from china cheap nba jerseys from china wholesale nba jerseys from china discount nba jerseys from china cheap nba jerseys from china wholesale nba jerseys from china discount nba jerseys from china cheap nba jerseys from china wholesale nba jerseys from china discount nba jerseys from china cheap nba jerseys from china wholesale nba jerseys from china discount nba jerseys from china cheap nba jerseys from china wholesale nba jerseys from china discount nba jerseys from china cheap nba jerseys from china wholesale nba jerseys from china discount nba jerseys from china cheap nba jerseys from china wholesale nba jerseys from china discount nba jerseys from china cheap nba jerseys from china wholesale nba jerseys from china discount nba jerseys from china cheap nba jerseys from china wholesale nba jerseys from china discount nba jerseys from china cheap nba jerseys from china wholesale nba jerseys from china discount nba jerseys from china cheap nba jerseys from china wholesale nba jerseys from china discount nba jerseys from china cheap nba jerseys from china wholesale nba jerseys from china discount nba jerseys from china cheap nba jerseys from china wholesale nba jerseys from china discount nba jerseys from china