With the second round of the ROYAL COMMISSION INTO FINANCIAL SERVICES public hearings due to commence on 16th April, it is important to be mindful of the issues already raised.
Much of the media reporting so far has been on the role of the mortgage broker. In the eyes of the public (and some of your clients), the distinction between a resi-mortgage broker and a commercial finance broker is often not well made, if at all.
The focus of the Commission has been on consumer loans and the mortgage broker, not commercial finance.
This has caused some commercial brokers to field questions from their clients, as perceptions from the Hearings have created uncertainty in the minds of clients.