Risk and Compliance Recap - September 2021



Requirements and objectives: it’s critical that clear and detailed notes are captured in MyCRM confirming the customer’s requirements and objectives and how the recommendation has met these. Check out the Thrive on Tips for BID Proof Note Taking to find out more about how to nail goals, requirements and objectives.  


MFAA/FBAA Banking Code of Practice training

The Banking Code of Practice (BCOP) online training is a mandatory industry requirement for brokers. Reminder for brokers who have not completed their BCOP training to complete their training ASAP and provide the certificate of completion to compliance@loanmarket.com.au 


Do I need a referral agreement even if no commission is paid?

Yes. The NCCP Act requires that there be a written agreement with a referrer, regardless of whether a commission is paid. You will need to disclose your referral arrangement in the Game Plan. 

Refer to our policy for further information