Regulatory Alerts2023-06-25 | RG-273RG 273 Mortgage brokers: Best interests duty
The Australian Securities and Investments Commission issued Regulatory Guide 273 to guide mortgage brokers and credit licensees on complying with the best interests obligations under Part 3-5A of the National Consumer Credit Protection Act 2009. The document details the specific standards ASIC assesses during compliance reviews and outlines practical steps entities can take to minimize the risk of non-compliance. This guidance was developed following consultations on implementing Royal Commission recommendations and aligns with broader product design and distribution obligations.
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