Broker Tools - Conflict of Interest
Credit licensees must ensure their customers are not disadvantaged by any conflicts of interest. The easiest way to avoid this happening is by adopting full disclosure.
Examples of Conflict of Interest
being related to the applicant
earning income from property sale
failure of disclosure
sharing confidential information
accepting a favour or gift from a client
What if I am not sure
When in doubt - disclose it!
Even if you know there is no conflict we recommend you note the Disclosure with YES and then explain there is "NO REAL CONFLICT OF INTEREST - However . . . "
Responsible lending maintains the product recommendation mus be NOT UNsuitable