Steadfast Group Limited (ASX:SDF) Updates on Internal Review
Internal Review Progress
Steadfast Group Limited has provided an update on its internal review of its strata broker and underwriting agency subsidiaries. This ongoing process was highlighted during the recent Annual General Meeting, where the focus was placed on updating minimum standards for strata insurance practices.
Independent Assessment
CEO Robert Kelly has engaged expert John Trowbridge to conduct an independent review of Steadfast’s strata insurance practices. The review aims to ensure ethical behaviour and competitive practices are upheld in the best interests of clients. Trowbridge’s report, “Review of Steadfast’s Strata Insurance Practices,” assesses existing operational standards and provides recommendations for enhancing transparency.
Findings and Implementation
The internal review has revealed no evidence of conflicts of interest or regulatory non-compliance. As part of the internal review’s outcomes, the proposed Operating Expectations have been developed to ensure improved disclosures and ethical practices across the strata insurance sector. Steadfast subsidiaries are advised to implement these standards by the end of this calendar year.
Steadfast’s decentralised structure promotes competition among its subsidiaries, which is tailored to deliver improved client services. Trowbridge stressed the importance of transparent disclosure and customer choice, stating that the Operating Expectations significantly contribute to these goals.
Motley Fool contributor Abbie Stokes has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has positions in and has recommended Steadfast Group. The Motley Fool Australia has positions in and has recommended Steadfast Group. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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