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ISCOVER
Staff Reporter
While brokers are undoubtedly doing more work under NCCP, the industry will look back in years to come and be grateful that compliance came into play, MFAA chief executive Phil Naylor has claimed.
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Speaking to The Adviser, Mr Naylor said while NCCP and compliance was always going to pose a bit of a challenge, professional brokers understand that good record keeping is quintessential to the success of a business.
“We have worked very hard with the regulators to minimise the challenge of NCCP without damaging the intention of the legislation. And I think for the most part brokers will agree that while they are doing more work, more compliance, and more record keeping, legislation has not been a nightmare,” he said.
“Most professional brokers were saying they needed to improve their record keeping in order to run a good and successful business.
“Moving forward, I think people will look back at NCCP and say ‘so what’.”
