Government announces review into mortgage broker trail commissions
The federal government has announced it won’t ban mortgage broker trailing in order to maintain competition, despite recommendations from the banking royal commission.
Instead, the ACCC will hold a review into whether trail commissions should be kept.
Mortgage and Finance Association of Australia CEO Mike Felton tells Ross Greenwood it’s a “good outcome”.
“Trail has a very important place in our industry.
“Really, the case has not been made for the removal of it.”
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