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MFAA Prosper : Mortgage and Finance Brief 05
2 | Mortgage & Finance brief CEO's Message The benefits of a strong and credible association MFAA's strength in numbers and resources and also its strength in policy development and advocacy have been central to a relatively smooth introduction of stage 1 of the National Consumer Credit Protection Act (NCCP). Advice from members indicates that the registration process with ASIC was user-friendly and efficient. All indications are that the licensing process now under way until 31 December, although more rigorous, is following that pattern. In no small way this has been clearly influenced by MFAA's early and ongoing facilitative engagement with Assistant Treasurer, the Hon Nick Sherry (formerly the Minister for Superannuation and Corporate Law) and later the Hon Chris Bowen (who was then Minister for Financial Services) as well as senior staff in Treasury and ASIC. They have all been keen to with work with MFAA to understand the industry and its operational requirements and the higher standards required of members by MFAA. This good working relationship will continue under the Gillard Government as we meet and engage with the new Assistant Treasurer and Minister for Financial Services and Superannuation, the Hon Bill Shorten. I have no doubt that the credibility we established during stage 1 will put us in good stead in advocating our policy for stage 2, which deals with items such as small business finance. Our credibility will also be influential because MFAA represents its membership on other issues that will inevitably arise in the general financial services sector and which may have an impact for mortgage and finance brokers. A policy which is well thought through via internal discussion and consultation, that is delivered in a rational manner and based on a credible reputation, will always have a better chance of traction than one which is knee-jerk and pursued in a combative manner. It has been well commented on that dealing with a minority government will be different from dealing with one with a healthy majority. This is undoubtedly true. However a credible reputation and an ability to work with all politicians in a collaborative fashion will be an increasingly important weapon in MFAA's armoury. Phil Naylor Chief Executive of MFAA MORTGAGE & FINANCE BRIEF is the official magazine for members of the Mortgage & Finance Association of Australia. Chief Executive Officer : Phil Naylor Marketing & Communications Manager : Marisa Miller Post: PO Box 604 Neutral Bay NSW 2089 T: (02) 8905 1300 F: (02) 9967 2896 E: email@example.com W: www.mfaa.com.au Published by: MAHLAB MEDIA Managing Director : Bobbi Mahlab Managing Editor: Roslyn Atkinson Sales & Business Development Manager : Nicole Dixon Advertising Sales Manager: Kerry Frances Art Director: Simon Wan G9/1-15 Barr Street Balmain NSW 2041 T: (02) 9818 8896 F: (02) 9818 6080 E: firstname.lastname@example.org W: www.mahlabmedia.com.au Printed by: Webstar Mailed by: Bluestar DM All material copyright MFAA. All rights reserved. MFAA does not expect or invite any person to act or rely on any statement, opinion or advice contained in this publication and readers must rely on their own enquiries in making any decisions or giving any advice. Neither MFAA nor any employee or agent of MFAA nor any contributor to this publication will be liable for any loss or damage caused by any inaccurate statement, opinion, advice or information contained in this publication. CAB Member
Mortgage and Finance Brief 06