Mike Pero Mortgages chief executive Shaun Riley says his company takes regulation very seriously.
"This is the first disputes resolution scheme to be approved. We will seek to have our franchisees registered as soon as the register opens on 1 July, as we firmly believe the Financial Advisers Act will help improve the overall quality of advice in our industry," he says.
FSCL has been established to offer an independent disputes resolution scheme for all Financial Service Providers. It will be operated by financial dispute resolution specialists and is not connected with finance industry groups or consumers.
Riley says he welcomes the new regime, as it will foster professionalism in the finance industry.
"This new disputes and discipline process will hold underperformers to account.
"We don't see this as a threat, as we have always set high professional standards for our company to adhere to."
He says he's looking forward to the full financial advisers regime getting underway.
"I fully support this and our brokers have already enrolled in the required training courses. We will do everything that needs to be done to become authorised financial advisers and will continue to provide financial advice to a high standard," he says.
