The Hayne Royal Commission delivered its recommendations with one of the most contentious issues being the removal of trailing commissions for mortgage brokers. While both Labor and the Coalition are yet to outline their plans for implementing a different remuneration structure for brokers (although the Coalition has kicked the can down the road with no change for at least three years), the industry has warned against unintentionally diminishing choice, access and competition (with the louder voices arguing that implementing the recommendation would destroy competition in the banking sector and destroy the industry altogether). With a wide range of recommendations in play and the upcoming Federal Election elevating posturing from the major parties, the question now is what will the next government actually do?
This uncertainty is #governmentrisk
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