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Legislative Council Tuesday, 29 May 2001 THE PRESIDENT (Hon J.A. Cowbell) took the Chair at 3.30 pm, and read prayers. FINANCE BROKERS COLLAPSE, PROMISE OF GOVERNMENT SUPPORT Urgency Motion THE PRESIDENT
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The finance brokers collapse promise is a commitment made by finance brokers to adhere to specific regulatory and legal requirements in the event of financial distress or collapse, ensuring that their clients' interests are protected.
Finance brokers who operate within regulated financial markets are required to file the finance brokers collapse promise to ensure compliance with legal standards and to protect their clients.
To fill out the finance brokers collapse promise, brokers must complete the designated form, providing accurate and comprehensive information regarding their financial practices and commitments to clients.
The purpose of the finance brokers collapse promise is to establish a framework that promotes accountability and ensures that clients are informed and protected in the event a broker becomes insolvent.
Information such as the broker's financial status, client account details, risk assessment strategies, and protocols for managing insolvency must be reported on the finance brokers collapse promise.
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