Mortgage brokers may see a review into their remuneration structure... Why optimism about the US economy's strength has dimmed...
Mortgage brokers won't escape regulatory scrutiny
Mortgage brokers may see a review into their remuneration structure by The Australian Securities & Investments Commission (ASIC) after being included in the 'regulatory sweep' stemming from the Murray Inquiry, The Australian reports.
The government response to the Iinquiry embraces new funding and penalty regimes for regulators and grants them the power to ban and modify harmful products.
The inquiry itself did not include recommendation for mortgage brokers but was proposed by the government in its response, also with recommendations for financial planners and mortgage brokers to disclose to customers who owns them.
“Recent history provides a number of examples of product and advice failures,’’ the government said in its response.
“While the circumstances of each case differ, problems have arisen when commercial incentives have overridden consumer interests.’’
Why optimism about the US economy's strength has dimmed
WASHINGTON (AP) — Consumers, fueled by job growth, cheaper gas and higher home values, would drive the U.S. economy through a global slump.
That was the widespread hope just a few months ago. Now, doubts are growing that the United States can withstand economic pressures flowing from overseas. Economies in China, Canada, Brazil and Europe are struggling. Canada, the largest U.S. trading partner, is in recession.
Americans have been holding back on spending even though lower gas prices have put more cash in their pockets. Employers have slowed hiring and held down pay. Home sales have flattened. And the U.S. economyhas been hobbled by a stronger dollar, which makes U.S. goods costlier overseas and is depressing corporate profits.
"There's no question that the economy is losing momentum," said Mark Vitner, an economist at Wells Fargo. "The question is whether it is temporary ... or is it something that will prove more lasting?"
As recently as early August, economists had sketched a bright picture for the rest of the year and, as a result, thought the Federal Reserve would be confident enough to raise interest rates from record lows in September. The Fed chose not to. And many economists and investors have pushed back their forecast for a Fed rate hike into next year.
The U-turn in sentiment happened fast. It occurred soon after China made a clumsy attempt last summer to prop up its stock prices and then devalued its currency. Financial markets plunged on fears that China's once-sizzling growth was shakier than anyone had thought and would slow economies elsewhere.
This week, China said its economy's growth slid to 6.9 percent in the July-September quarter from a year earlier, the slowest pace in more than six years.
Mortgage brokers may see a review into their remuneration structure by The Australian Securities & Investments Commission (ASIC) after being included in the 'regulatory sweep' stemming from the Murray Inquiry, The Australian reports.
The government response to the Iinquiry embraces new funding and penalty regimes for regulators and grants them the power to ban and modify harmful products.
The inquiry itself did not include recommendation for mortgage brokers but was proposed by the government in its response, also with recommendations for financial planners and mortgage brokers to disclose to customers who owns them.
“Recent history provides a number of examples of product and advice failures,’’ the government said in its response.
“While the circumstances of each case differ, problems have arisen when commercial incentives have overridden consumer interests.’’
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A new study offers insight into the benefits most likely to lure your workers away.
A new study offers insight into the benefits most likely to lure your workers away.
Why optimism about the US economy's strength has dimmed
WASHINGTON (AP) — Consumers, fueled by job growth, cheaper gas and higher home values, would drive the U.S. economy through a global slump.
That was the widespread hope just a few months ago. Now, doubts are growing that the United States can withstand economic pressures flowing from overseas. Economies in China, Canada, Brazil and Europe are struggling. Canada, the largest U.S. trading partner, is in recession.
Americans have been holding back on spending even though lower gas prices have put more cash in their pockets. Employers have slowed hiring and held down pay. Home sales have flattened. And the U.S. economyhas been hobbled by a stronger dollar, which makes U.S. goods costlier overseas and is depressing corporate profits.
"There's no question that the economy is losing momentum," said Mark Vitner, an economist at Wells Fargo. "The question is whether it is temporary ... or is it something that will prove more lasting?"
As recently as early August, economists had sketched a bright picture for the rest of the year and, as a result, thought the Federal Reserve would be confident enough to raise interest rates from record lows in September. The Fed chose not to. And many economists and investors have pushed back their forecast for a Fed rate hike into next year.
The U-turn in sentiment happened fast. It occurred soon after China made a clumsy attempt last summer to prop up its stock prices and then devalued its currency. Financial markets plunged on fears that China's once-sizzling growth was shakier than anyone had thought and would slow economies elsewhere.
This week, China said its economy's growth slid to 6.9 percent in the July-September quarter from a year earlier, the slowest pace in more than six years.
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Home Loan Connexxion's director on why brokers should back themselves.
