Under the MFAA Constitution and Disciplinary Rules, the MFAA Tribunal has the power to issue determinations to expel and suspend members and to cancel memberships where appropriate.
The Mortgage & Finance Association of Australia (MFAA) Disciplinary Rules were established by the MFAA Constitution.
These Rules describe the process that the MFAA takes with respect to, but not limited to, the following:
- complaints about the conduct of members of the MFAA;
- allegations of breaches by its members of the MFAA Constitution, Code of Practice or other requirements of the Board;
- investigation of such complaints, allegations and other matters, by the Investigating Officer;
- the establishment of, and action taken by, the MFAA Tribunal; and
- appeals against declined applications for membership of the Association.
As a matter of best practice, the MFAA conducts periodic reviews of both the Code of Practice and the Disciplinary Rules to ensure that they continue to be fit for purpose for the industry. As an outcome of a recent periodic review, the MFAA Board have approved several changes to the Code of Practice and the Disciplinary Rules. The amendments update and simplify language and improve the efficiency of the disciplinary processes that underpin the Code.
The revised Disciplinary Rules come into effect on 11 October 2021.