Queensland code of conduct to regulate finance brokers

The Queensland Government has released for public consultation a Regulatory Impact Statement (pdf) on a proposed code of conduct to regulate finance brokers.

The proposed regulation incorporates a mandatory Code of Conduct which aims to address the following areas:

  • disclosure of broker commissions, fees and other information;
  • justification of professional recommendations;
  • caveats or restrictions over consumer assets to secure brokers fees; commissions or other benefits;
  • professional standards of behaviour;
  • confidentiality and privacy of customer information; and
  • dispute resolution.

Comments can be made until Friday 11 May 2007.

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