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C.24 Compliance - Conflict of Interest

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 . . . "

Not Unsuitable Responsible lending maintains the product recommendation mus be NOT UNsuitable

Compliance Topics
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