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From AFR on 16 June 2024:

PEXA drags feet on breaking up its own monopoly, pleasing investors


Among its key concerns are that the new regime will create more friction for its customers, and it won’t be properly regulated. Smith said it was an ecosystem with $3 billion moving around every day. Under the new framework, no party can see all the participants, and Smith said it was unclear who would regulate any disputes, or delays.

Currently, it doesn’t clearly sit under any federal regulator. E-conveyancing is the realm of the states, while finance and corporate regulations are with the Commonwealth.