From my understanding LB, if this bill passes through both houses as drafted, anybody seeking to administer a debt agreement will need to be authorised by the Australian Financial Securities Authority (AFSA). No doubt, if you are a rouge operator, you will struggle to receive a licence. I think it will be good for FSA in the long run. It's certainly a barrier to entry.
Speaking of the AFSA, did you pick up on the fact that they released the March quarterly stats for debt agreements yesterday? The size of the pie continues to get bigger. Hopefully market share is being retained. A lot of action happening in New South Wales, FSA’s home state.
https://www.afsa.gov.au/statistics/quarterly-statistics-commentary
In my humble view, its all about car lending going forward.
The Bankruptcy Amendment (Debt Agreement Reform) Bill 2018, page-4
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