July 21, 2020 09:29am • ASIC News • Greg Ashe

QED's Perspective: What to Make of the Best Interests Obligation

As you are no doubt aware, late last month ASIC finally released its Regulatory Guide RG273: Mortgage Brokers: Best interests duty. QED produced a very brief communication on this a couple of days after. It was very brief, wrapp...

March 27, 2020 09:29am • News • Kathy Ashe

Potential employment levels are just like servicing - do your own arithmetic! Making sense for Mortgage Brokers out of economic uncertainty.

When I started putting thoughts together for this article, I was working on announcements that "unemployment could go as high as 20%" as a result of this economic shutdown. On my way home this morning from what is likely to be my final school dro...

February 20, 2020 09:29am • ASIC News • Greg Ashe

ASIC Draft Regulatory Guide released on Best Interests Obligation: Will you be looking for a new career post July 1?

Best Interests obligation

The Royal Commission recommended that mortgage brokers be required to act in the best interests of their clients, in line with the existing requirements for financial planners, and the Act itself contains only the vague and...

February 19, 2020 09:29am • ASIC News • Greg Ashe

ASIC RG209 Update: Responsible Lending and the Best Interests Obligation - Nothing's Changed

Last month, ASIC surprised us by releasing its latest update on Regulatory Guide 209. We say "surprisingly" because we don't see how definitive guidance can be delivered until the Westpac case is finalised - but let's just walk over that for now....

August 14, 2019 09:29am • ASIC News

Westpac Case Gives ASIC a Reality Check

In a turn of events that surprised even QED, on Tuesday the judgment in the landmark ASIC v Westpac responsible lending case was handed down in resounding favour of Westpac.

Notwithstanding any appeal, the judgement has a resounding impact on how se...