Brokers looking to hold their own licence need to start working on their application now, according to Mark Haron.
Speaking at Connective’s broker PD day yesterday, Mr Haron told the aggregator’s broker partners that they need to have their licence application ready to roll by the first week of November.
“November is only a couple of weeks away now and many brokers don’t understand just how much work is required in filling out an ACL application,” Mr Haron told The Adviser.
“You don’t want to run the risk of ASIC not having the time to process your application before the regulation deadline. It is better to be safe than sorry.”
In the instance that brokers do not make the deadline, Connective also offers brokers the option of being a credit representative under their licence.
“Licensing is obviously very topical among brokers at the moment, and we want to make sure we are able to support our broker partners wherever possible. That is why we have professional development days – so brokers can ask questions and we can combat any concerns they might have regarding regulation.”
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