PICA’s Secret Lobbying Exposed

Australia’s biggest strata company, PICA Group, secretly warned a government panel that banning insurance kickbacks could collapse 70% of strata management firms — a claim buried in a confidential submission. Despite an expert panel recommending a full ban on financial benefits for managers, the government opted for vague future reforms, ignoring calls from owners and consumer groups who say kickbacks inflate costs. PICA, managing $72 billion in assets and linked to a recent kickback scandal, denies hiding anything — but refuses to release its submission, fueling accusations of closed-door lobbying. Support the show:Get a discount at https://solipillow.com/discount/dnn. Advertise on DNN:[email protected] This is an automated, high-level news summary based on public reporting.Report issues to [email protected]. View sources & latest updates:https://sources.thednn.ai/b4dddd1226a1fe9e