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ASIC reveals its view on new ‘best interests’ duty for brokers

The financial services regulator supports the introduction of a “best interests” duty for brokers, a senior manager at ASIC has revea...
December 16, 2018 51
Introducing a “best interests” duty for brokers would have the unintended consequence of reducing competition and be a “bad outcome...
November 15, 2018 8
AFCA’s mission is to herald “a new era of good faith in financial services”, the chair said, especially after the litany of abuses ...
November 15, 2018 0
The broking industry association has named its state presidents and councillors for the coming year. ...
November 15, 2018 0
Real estate franchise group Harcourts International has announced that its new international chief operating officer will take up respons...
November 15, 2018 0
A lender has updated its credit policy to require brokers to explain the source of their clients’ “genuine savings” for high LVR lo...
November 14, 2018 6
A big four bank has announced that it is to change broker commissions from next week, becoming the penultimate major lender to bring into...
November 14, 2018 10
The federal government has announced a new $2 billion Australian Business Securitisation Fund to help provide additional funding to small...
November 14, 2018 3
Legislating for the provision of standardised commissions could help eliminate conflicts that encourage lenders to use commissions as a ...
November 13, 2018 20
Australia’s regional banks have urged the financial services royal commission to consider the potential “significant negative implica...
November 13, 2018 2
A big four bank has announced that it will implement a swathe of changes to its home and investment lending policy. ...
November 13, 2018 9
Insurance provider Ensurance Now has rebranded following a successful acquisition and is targeting brokers under a new referral model....
November 13, 2018 0
A non-major bank has announced that it is recruiting for a new head of broker as its former manager moves into a new role heading up th...
November 12, 2018 1
A major mortgage aggregator “cannot understand” why Commissioner Kenneth Hayne raised the question of broker “agency” in the inte...
November 12, 2018 4
A new program for brokers looking to continue business coaching and networking after their required two years of mentoring is to be launc...
November 12, 2018 0
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FBAA welcomes ASIC reduction of fees

The Finance Brokers Association of Australia has welcomed the ne...