This audio presentation explores the Best Interest Duty (BID), a major regulatory reform in the Australian mortgage broking industry designed to prioritize consumer interests over broker commissions. Listeners will learn about the origins of BID following the Banking Royal Commission, the Conflict Priority Rule, and the compliance obligations mortgage brokers must meet, including transparent documentation and ethical decision-making. The discussion highlights real-world scenarios, showing both compliance with and failures to uphold BID, emphasizing its impact on consumer trust, financial outcomes, and industry professionalism. By the end, listeners will understand how BID raises service standards, promotes ethical conduct, and ensures mortgage brokers act with integrity in every client interaction.
Best Interest Duty (BID)

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