Broker Accreditation

1. Definitions

In this section:

“you” means the applicant for accreditation and, where applicable:

• if the applicant is a company – each director and any person who controls or manages the applicant;
• if the applicant is a partnership – each partner;
• if the applicant is a sole trader – the individual applicant.

2. Collection of Information

You acknowledge that CFI may collect personal information and credit-related information about you:

• directly from you or your representatives;
• from credit reporting bodies (including Equifax, illion and Experian);
• from referees, aggregators, franchise groups, professional advisers or business partners;
• from publicly available sources (including insolvency and court records);
• from identity verification and fraud prevention service providers; and
• from other credit providers or financial institutions.

3. Purpose of Collection

You consent to CFI collecting, using and disclosing your information for the purposes of:

• assessing your application for accreditation as a broker or introducer;
• assessing your financial position, creditworthiness and business integrity;
• verifying your identity and preventing fraud;
• complying with legal and regulatory obligations (including AML/CTF requirements);
• establishing, managing and reviewing any accreditation, introducer or commercial relationship;
• ongoing monitoring of risk, compliance and performance; and
• any other purpose permitted by law.

These purposes are consistent with CFI’s Privacy & Credit Reporting Policy.

4. Credit Checks and Reports

You authorise CFI to:

• obtain commercial credit reports about the applicant entity;
• obtain consumer credit reports about you (including directors and sole traders) from credit reporting bodies;
• make enquiries with credit providers named in any credit report; and
• exchange credit-related information with credit reporting bodies and other credit providers.

This includes information about your:

• credit history, repayment history and defaults;
• creditworthiness, credit standing and credit capacity; and
• insolvency events, court judgments or bankruptcy.

You acknowledge that these checks may be conducted:

• at the time of application; and
• periodically during the term of any accreditation or relationship with CFI.

5. Identity Verification and Fraud Prevention

You consent to CFI using electronic identity verification and fraud prevention services, which may include:

• verifying your identity against government or other databases;
• document verification;
• fraud and risk scoring; and
• where applicable, biometric or facial verification processes.

6. Disclosure of Information

You authorise CFI to disclose your information to:

• credit reporting bodies and other credit providers;
• related entities within the CFI group;
• service providers (including IT, verification, compliance and data processing providers);
• aggregators, franchise groups or business partners relevant to your accreditation;
• professional advisers;
• regulators, government agencies or law enforcement bodies; and
• any other party where required or permitted by law.

Some recipients may be located outside Australia or New Zealand, in accordance with CFI’s Privacy Policy.

7. Referees

You authorise CFI to contact any referees provided in connection with your application and to obtain information about your business, reputation and conduct.

8. Information About Others

If you provide personal information about another individual, you confirm that:

• you are authorised to provide that information; and
• you have informed them of the matters set out in this authority and CFI’s Privacy Policy.

9. Marketing

You consent to CFI and its related entities using your information to provide information about products and services. You may opt out of direct marketing at any time.

10. Privacy Policy

You acknowledge that:

• CFI’s Privacy & Credit Reporting Policy applies to the collection, use and disclosure of your information; and
• the policy is available on request or via CFI’s website.

11. Consequence of Non-Consent

If you do not provide the consents and authorities in this section, CFI may be unable to assess or approve your application for accreditation.

1. Accuracy of Information

You declare that:

• all information provided in this application is true, correct and complete in every detail;
• no material information has been withheld or omitted; and
• all documents provided are genuine and have not been altered.

You acknowledge that CFI will rely on this information in assessing your application.

2. Legal Status and Authority

You declare that:

• the applicant entity is validly incorporated or registered and is not subject to deregistration;
• you have full authority to make this application on behalf of the applicant entity; and
• entering into a relationship with CFI will not breach any other agreement or obligation.

3. Licensing and Compliance

You declare that:

• you hold all licences, authorisations, credit representative appointments and memberships required by law to conduct finance broking or introducing activities;
• you are currently in compliance with all conditions attached to those licences and authorisations;
• you will maintain all required licences and authorisations for the duration of any accreditation with CFI; and
• you will notify CFI immediately if any licence or authorisation is suspended, cancelled, varied or made subject to conditions.

4. Conduct and Regulatory History

You declare that neither you, nor any director, partner, or person involved in the management of the applicant entity has:

• had a licence, authorisation or registration refused, suspended, cancelled or made subject to enforceable undertakings by any regulator (including ASIC, AFCA or any state/territory authority);
• been the subject of any banning order, disqualification or prohibition by a regulator;
• been found to have engaged in misleading, deceptive or unconscionable conduct;
• been the subject of any investigation, disciplinary action or finding by a professional body, industry association or dispute resolution scheme; or
• been convicted of, or charged with, any criminal offence involving fraud, dishonesty or financial misconduct.

If any of the above has occurred, full details must be disclosed with this application.

5. Insolvency and Financial Position

You declare that neither you, nor any director, partner, or person involved in the management of the applicant entity:

• is or has been bankrupt or subject to a personal insolvency agreement;
• has been a director of a company that has been placed into external administration, receivership or liquidation;
• is currently unable to pay debts as and when they fall due; or
• has entered into any arrangement or composition with creditors.

If any of the above has occurred, full details must be disclosed with this application.

6. Litigation and Disputes

You declare that:

• there are no current, pending or threatened legal proceedings, complaints (including AFCA complaints), regulatory actions or disputes involving you or the applicant entity that could materially affect your ability to act as a broker or introducer; and
• you will notify CFI immediately if any such matter arises during the term of any accreditation.

7. Good Fame and Character

You declare that you are of good fame and character and there is no matter that, if known to CFI, could reasonably be expected to affect CFI’s decision to accredit you.

8. Capability

You declare that:

• you have the skills, knowledge and experience to perform your obligations as a broker or introducer;
• you maintain adequate professional indemnity insurance; and
• you have adequate resources, systems and processes to perform your obligations competently and in compliance with all applicable laws.

9. Ongoing Obligation

You acknowledge and agree that:

• these declarations are ongoing for the duration of any accreditation or relationship with CFI;
• you will notify CFI in writing immediately if any declaration becomes or is likely to become untrue or inaccurate; and
• providing false or misleading information in this application may result in refusal, suspension or revocation of accreditation and may be referred to the relevant authorities.