Financial Services Federation targets mortgage advisers as affiliate members

Adviser groups including Loansmart and One Partner are now affiliate members.

About to turn 60, the Federation has been run off its feet in preparing about 11 submissions on different consultation efforts ranging from the new government's plans to simplify the Credit Contracts and Consumer Finance Act and the Financial Markets (Conduct of Institutions) Amendment Act (CoFi) to the Commerce Commission's market study of competition for personal banking services to the Reserve Bank's consultations on the rules for the new Deposit Guarantee Scheme and whether it should widen admissions to the Exchange Settlement Exchange System (ESAS).

The implications of all these changes do directly impact on mortgage advisers.

Executive director Lyn McMorran says she's also expecting the new government to start consulting on changes to anti-money laundering legislation to both simplify and strengthen it.