Article Archive

Western Australia President's Report by Lynne Cox, Former Western Australia President

AGM and Sundowner
The Annual General Meeting of the WA branch of the FBAA was held on December 3rd, followed by a very well attended sundowner at the Matilda Bay Restaurant in Crawley. It was pleasing to see Peter Jooste QC, Chairman of the Finance Brokers Supervisory Board, and Registrar Greg Harvey join us once again.

The AGM saw the incumbent State President and other office bearers re-elected for a further 12 months, with the exception of state Secretary/Treasurer Ted Brunton. At 78 years of age Ted decided to hang up his gloves. No one has done more to represent the interests of finance brokers in WA than Ted and his contribution is gratefully acknowledged by the FBAA. Linda Lai was elected to take Ted's place as Secretary/Treasurer. The Sundowner was generously sponsored by Mr Kevin Matthews of AFG, and Mr Hans Beyer of West Coast Finance.

Education
The course to replace Certificate IV is still being finalised. The Finance Brokers Supervisory Board, the FBAA, MIAA and TAFE are all taking an active part in the development of the new course and the outcome is looking very positive. Members will be kept up to date via email with the latest developments in our regular 'Broker News Updates'.

Broker Survey
We would like to thank all the people that took the time to take part in the Survey to Restricted Licence Holders in Western Australia. The outcome of the Survey will be very helpful in making our case to the Finance Brokers Supervisory Board. However, the overall number of replies was disappointing when one considers that the questionnaire was designed specifically to add merit to the proposals that the FBAA will make to the Finance Brokers Supervisory Board, on behalf of its members. Members would do well to remember that there is no point in complaining about was hasn't or has happened to regulation and education in the industry, when they themselves haven't bothered to give three minutes of their time to make what could be the difference.

Amendments to the Act
The Finance Brokers Control Amendment Bill 2003 was tabled in Parliament in early December and includes many amendments to the Finance Brokers Control Act 1975 foreshadowed by Minister Kobelke in October 2002. The proposed amendments will not be debated in Parliament until March next year. The FBAA will review the amendments in consultation with members and make formal submission to the Minister prior to the debate in Parliament.

Lynne Cox
Former Western Australia President
December 2003