LawFuel – The Law Newswire –
The Western Australian Department for Consumer and Employment Protection has released a revised Code of Conduct for Finance Brokers that will introduce additional safeguards for borrowers seeking loans through a finance broker. The new code is likely to be welcomed by lenders as it should ensure a higher standard of skill and competence amongst finance brokers and their staff, and improve disclosure to loan applicants. Western Australia is not alone in regulatory initiatives affecting finance brokers. Queensland is assessing a proposal for a Code of Conduct for finance brokers. Partner Catherine Parr (view CV) , Senior Associate Cameron Ball and Lawyer Katya Rozenblit look at these developments.