Important changes to NCCP Compliance Documents

March 25th, 2019

 

Following recommendations made by the Combined Industry Forum (CIF), Connective has updated our master NCCP Compliance Documents.  For all Connective Credit Representatives, it is mandatory to use these new compliance documents from March 19, 2019. For brokers holding your own ACL, it is highly recommended that you implement our updated documents to maintain your NCCP obligations and protect your business from potential risk.

The new documents can be located under the compliance documents tab in Mercury. The updated compliance documentation includes the following items.

Credit Guide

Our updated Credit Guide now meets the reporting requirements of the CIF, and includes:

• All Connective panel lenders
• Lenders you are accredited with
• Settlement volume over the previous 12-month reporting period
• Tiered servicing arrangements
• Gift and hospitality registers.

Preliminary Assessment

The Preliminary Assessment now features red text under the product recommendation table which needs to be edited.  This is a reminder for you to disclose any tiered servicing arrangements you have in place with a lender who may be recommended to the customer.

Credit Proposal Disclosure

The Credit Proposal Disclosure also includes red text under the product table which needs to be edited.  This is a reminder that you must disclose any tiered servicing arrangements that are in place with the lender, when you submit a loan application.

For any questions relating to the content of the documents, please contact compliance@connective.com.au or simply click your Help icon in Mercury and select the Compliance Helpdesk.