The Queensland Government has released for public consultation a Regulatory Impact Statement (pdf) on a proposed code of conduct to regulate finance brokers.

The proposed regulation incorporates a mandatory Code of Conduct which aims to address the following areas:

• disclosure of broker commissions, fees and other information;
• justification of professional recommendations;
• caveats or restrictions over consumer assets to secure brokers fees; commissions or other benefits;
• professional standards of behaviour;
• confidentiality and privacy of customer information; and
• dispute resolution.

Comments can be made until Friday 11 May 2007.