ASIC has revealed it is currently investigating 20 cases of falsification of
loan documents or applications, while stating that fraud by brokers ‘will not be
tolerated’.
Some new brokers are choosing to join the FBAA rather than the MFAA, saying
being forced to undertake the Diploma right from the start is ‘unreasonable’
Despite increasing regulations and the introduction of NCCP, some brokers are
failing in adequately advising their clients of potential risks, says one broker
trainer.