GRCGuideline

RG 273

Regulatory Guide 273: Mortgage brokers: Best interests duty

RG 273 is a regulatory guide issued by ASIC that provides guidance for mortgage brokers and Australian credit licensees on complying with best interests obligations outlined in Part 3-5A of the National Consumer Credit Protection Act 2009. It includes steps to minimize the risk of non-compliance.

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Overview

Issued by the Australian Securities & Investments Commission (ASIC), RG 273 outlines the best interest duties for mortgage brokers and relevant Australian credit licensees under the National Consumer Credit Protection Act 2009. The guide explains what ASIC looks for when assessing compliance with these obligations, providing actionable steps and guidelines to ensure adherence to regulations. The document serves as a resource for understanding legal expectations and practical strategies to fulfill the best interests duty, minimizing the risk of non-compliance. This guide is part of broader efforts related to implementing consumer protection measures in the mortgage brokerage industry as recommended by the Royal Commission.

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