Foreword From FBAA
"The Year of Distinction"
Have a great 2015 and remember to ‘distinguish yourself’ from everyone else, and I look forward to seeing throughout the year.
All the best,
Peter J White
Chief Executive Officer
"The Year of Distinction..."
Welcome to the New Year and to our New Look eMagazine! It is with great excitement that we have taken some large steps forward with our technology bases to be able to deliver to you this new look eMag and our new look eNewsletter. Plus, we have completely overhauled our website which is soon to be revealed!
The eMag has been expanded to not only include the latest technologies that makes us a leader in this field, but also includes news from around the world as well as local content and updates from government and regulators.
If you would like to contribute articles and or advertise in our eMag just email editor@thefinanceprofessional.com.au with an article that is no longer than 600 words.
2014 was a significant year for the FBAA with our growth exceeding 32% net year on year and in 2015 we are looking to exceed this, so thank you for your support as we move into 2015 and take on new challenges for our industry under what I have termed ‘the year of distinction’.
Yes, we all need to ensure we distinguish ourselves from everyone else so to ensure you are seen as the leaders in your field, and that we all show the highest of professionalism and integrity in all that we do.
Look out for announcements of our events this year as they will take you on a journey of success and knowledge. Remember also to note in your diaries that our 2015 FBAA National Industry Conference is on 13th November 2015 at SeaWorld on the Gold Coast QLD – it will be the biggest event of the year and you won’t want to miss out!
The FBAA Scholarship Program is well underway, so if you know anyone that would like to take advantage of this opportunity, then click on the following link for more information: http://www.australiscollege.edu.au/fbaa-scholarship-program. Apply now to see if you are one of two lucky people that can have their education paid, so it’s free for the student. And don't forget, you could be eligible to have this VET funded as well.
You would have seen in December in industry press that FBAA is taking on issues surrounding valuations. We are forming a Lobbying Committee to speak further with Government and APRA, so I shall keep you up to date on all progress on this front, as the inconsistencies with the information / valuations that are being delivered are not acceptable and we all understand the issues it is causing for borrowers and to our industry.
Regarding Federal Government matters, I have completed a further submission paper to The Treasurer’s Finance Department outlining 6 key issues that need finalising from the launch of the NCCP which have not been attended to, plus other key areas of concern to the FBAA. The matters involved are: LMI disclosure in the Key Fact Sheets (this has been originally solely driven by the FBAA), motor finance first choice provisions/exemptions, commercial lending under the NCCP (not), registration of commercial finance brokers, LMI proactive refunds direct to borrowers, and the overburden and duplication of documents under the NCCP.
I have also completed a further submission to the Assistant Minister’s Office for Infrastructure and Regional Development, in relationship to the review of the Motor Vehicle Standards Review Act whereby the FBAA was invited to attend a consulting committee meeting at Parliament House in Canberra and were the only representatives for finance, lending and brokering. We have put forward our concerns relating to this review where it potentially impacts lending and credit, together with supplying further commentary to assist the Assistant Minister and the committee with their deliberations in this area.
As always I shall keep you up to date with progress on all these matters we have with Government and Regulators.