C.24 Compliance - Conflict of Interest

Broker Tools - Conflict of Interest

Credit licensees must ensure their customers are not disadvantaged by any conflicts of interest. The easiest way to avoid this happening is by adopting full disclosure.

Examples of Conflict of Interest

being related to the applicant
earning income from property sale
failure of disclosure
sharing confidential information
accepting a favour or gift from a client

What if I am not sure When in doubt - disclose it!

Even if you know there is no conflict we recommend you note the Disclosure with YES and then explain there is "NO REAL CONFLICT OF INTEREST - However . . . "

Not Unsuitable Responsible lending maintains the product recommendation mus be NOT UNsuitable

Compliance Topics

C.01 Compliance - Premium Broker

C.02 Compliance - Credit Guide

C.03 Compliance - Privacy

C.04 Compliance - Client's Identity

C.05a Compliance - Data Verification (Fact Find)

C.05 Compliance - Fact Find

C.06 Compliance - Assets

C.07 Compliance - Liabilities

C.08b Compliance - Living Expenses

C.08a Compliance - Dropbox & OneDrive

C.08 Compliance - BankStatements

C.09 Compliance - Objectives

C.09a Compliance - Preapproval to Formal

C.10 Compliance - Exit Plan

C.11 Compliance - Borrowing Capacity

C.12 Compliance - Funding Worksheet

C.13 Compliance - Security

C.14 Compliance - Commission

C.15 Compliance - Referrals

C.16 Compliance - Loan Recommendation

C.17 Compliance - Loan Scenario

C.18 Compliance - Refinancing Report

C.19 Compliance - Reverse Mortage

C.20 Compliance - Topup & Variations

C.21 Compliance - Advice Comments

C.22 Compliance - Forseeable Changes

C.23 Compliance - Verification