Lead Generators

Equity Trustees agrees that the conduct which led to consumer loss in relation to the Shield and First Guardian matters involved a chain of entities, but began with lead generators. Existing laws to regulate the provision of financial services are no longer fit-for-purpose or effective in enabling enforcement to prevent consumer harm as a result of lead generation activities. It is time to consider improvements to the regulatory framework given recent failures. We strongly support enhancements that mandate licensing for lead generators; expand anti-hawking requirements to include lead generation activities; and capturing lead generators under the conflicted remuneration ban.

Read the full submission here