Description of Conduct

On 20 December 2019, the MFAA lodged an application for revocation and substitution of an existing authorisation concerning their Disciplinary Rules. The MFAA’s membership includes lenders, aggregators, brokers and associated professions such as accountants and lawyers. The Disciplinary Rules outline processes for investigation of complaints, expulsion of members and appeals against refused applications for membership or accreditation. They also include rules for the MFAA Tribunal. The Rules have been authorised since 2004. Most recently the Rules were reauthorised in 2014. This authorisation expired on 12 June 2019.

Re-authorisation was sought for ten years.

On 11 April 2019, the ACCC granted interim authorisation, commencing immediately, to enable the MFAA to continue to administer its Disciplinary Rules as authorised under A91396 while it considers making changes to its governance regime, which includes its Disciplinary Rules, following the recommendations of the Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry, several of which relate to the mortgage broking sector.

On 17 September 2019, the MFAA advised the ACCC that, as a result of ongoing change in the industry and regulatory uncertainty, it would be unable to make the anticipated changes to its governance regime within the estimated timeframe. The MFAA has made some technical changes and refinements to its Rules and has provided the ACCC with a copy of these amended Disciplinary Rules, for which it is seeking authorisation of for two years.

On 10 December 2019, the ACCC issued a draft determination proposing to grant authorisation for two years.

On 28 February 2020, the ACCC issued a determination granting authorisation for two years. If no application for review is lodged to the Australian Competition Tribunal, the determination will come into force on 21 March 2020.

A copy of the determination is available under the Decisions heading below.


  • Mortgage and Finance Association of Australia

Authorisation number(s)

  • AA1000432-1