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ARTICLE · 25 MAY 2007

Banking And Finance Update – May 2007

Gadens Lawyers
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Last month, the WA Minister for Consumer Protection announced that a revised brokers Code of Conduct was anticipated to commence on 29 June 2007.

AustraliaCorporate/Commercial Law
  • Time to comply with the WA Finance Broker Code of Conduct
  • Do real estate mortgages need an acknowledgement of debt?

Time To Comply With The WA Finance Broker Code Of Conduct

Last month, the WA Minister for Consumer Protection announced that a revised brokers Code of Conduct was anticipated to commence on 29 June 2007.

Only weeks away, now is your last chance to comply with the Code and avoid serious penalty.

What do you Need to do?

If you arrange finance which is in any way connected to WA, you must:

Adopt a finance broking contract (FBC)

The MFAA and Gadens are developing an FBC specifically for use in WA and also (hopefully) a national FBC which will comply with the NSW, ACT, and Victorian legislation as well. The FBC for specific use in WA can be accessed by clicking here

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