Code of conduct
All Westpac accredited Introducers are required to adhere to the relevant Code of Conduct to ensure compliance with legislation.
Broker Code of Conduct
The following principles also apply in relation to Introducers as if "Introducer" were used instead of "Broker".
1. Broker principals are responsible for the conduct, acts and statements of all persons employed in the business of the Broker in the normal course of business.
2. Brokers must comply with the law and observe and abide by any duties and obligations imposed by any legislature or regulation in the State or Territory in which the Broker carries on business.
3. Brokers must not threaten, harass or use undue pressure to persuade an Applicant to make a loan application and must not tell, or imply to, an Applicant that finance must be obtained from Westpac.
4. Brokers must not, in connection with a loan application, call upon an Applicant at their place of residence or employment without first being invited to do so.
5. Brokers must not tell an Applicant that they are required to take out insurance with any particular insurer.
6. Brokers must not engage in any harsh or unconscionable conduct.
7. Brokers must treat all Applicants fairly and without regard to race, colour, religion, national origin, disability, sex, marital status or age.
8. Brokers must deal with Applicants efficiently and courteously.
9. Brokers must provide Applicants with sufficient information about Westpac's product to enable them to understand:
(a) How it works.
(b) The nature of fees and charges, and the method by which interest is calculated.
(c) The terms and conditions in a general descriptive manner pending issue of formal documentation.
10. Brokers must maintain confidentiality and not disclose information concerning an Applicant's affairs to any party other than Westpac.
11. Brokers must ensure Applicants are aware Westpac may pay the Broker a commission for the referral of finance.
12. Brokers must not share or split commission with an Introducer unless that Introducer is licensed under any relevant State or Territory legislation and has complied with any legislative requirements as to disclosure in respect of their dealings with an Applicant.
Referrer Code of Conduct
1. Referrer principals are responsible for the conduct, acts and statements of all persons employed in the business of the Referrer in the normal course of business.
2. Referrers must comply with the law and observe and abide by any duties and obligations imposed by any legislature or regulation in the State or Territory in which the Referrer carries on business.
3. Referrers must not tell an Applicant that they are required to take out insurance with any particular insurer.
4. Referrers must not engage in any harsh or unconscionable conduct.
5. Referrers must treat all Applicants fairly and without regard to race, colour, religion, national origin, disability, sex, marital status or age.
6. Referrers must deal with Applicants efficiently and courteously.
7. Referrers must maintain confidentiality and not disclose information concerning an Applicant's affairs to any party other than Westpac.
8. Referrers must ensure Applicants are aware Westpac may pay Referrer a commission for the referral of finance.