Friday Wrap 06 Dec 2024

Today's hosts are Sadish Visvalingam, and back from her well deserved holiday, Beth Comino. As always we will chat about the happenings in the group and news in the wider industry that may be interesting to brokers. In the hotseat this week we have Rachael Bland. Currently streaming from the Philippines on a work trip with 2 other broker buddies.Topics this week: (1) Recent discussion based on a FWA case regarding wrongful dismissal brought forward by an offshore worker against an Australian employer being heard at all is unprecedented and presents a potential issue regarding how those employees may be compensated according to Australian Law. Source: https://www.facebook.com/share/p/1EmGMpEw4w/Question: Question for Rachael: Given one of her business is about helping employers directly hire OS workers (rather than through a BPO), has the case been misunderstood? ------------------------------------------------------ (2) Customer verification / KYC Dien had a recent conversation with a broker who placed (and settled) a personal loan with lender (a) and home loan with lender (b). The issue is that supporting docs provided have been found to be fraudulent. The broker is now being audited and may lose his accreditation. Source: https://www.facebook.com/groups/financeandcoffee/?multi_permalinks=2786587634881530¬if_id=1733693811480950¬if_t=feedback_reaction_generic&ref=notif Question: How much supporting docs do you collect? or should you collect? Do you call the employer as well? ------------------------------------------------------ (3) RBA Holds .... again Source: https://www.abc.net.au/.../rba-boss-opens-door.../104710274 Question: Previous indicators are rates wont move till mid to late next year. So why even suggest it may move in Feb? Also do you send content about RBA movements to your clients? Does it work for you?