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PEXA Subscriber Review Process to Commence in May

PEXA Subscriber Review Process to Commence in May

By Property and Environmental Law Section

Conveyancing Real Property 


PEXA has previously e-mailed Subscriber Managers at each firm activated to use PEXA, notifying them of the Subscriber Review Process beginning in May.
The review originates from ARNECC’s latest Model Operating Requirements, operating requirement 14.7. It requires PEXA to establish, implement, review and keep current a Subscriber Review Process to ensure subscribers are complying with the Model Participation Rules (MPR).
This means that on a monthly basis, starting from May 2019, Subscriber Managers across a number of practitioner firms and financial institutions will be selected to participate in a Subscriber Review Process. If your firm is selected, you will have 30 days to complete the review.
To help PEXA members through the review and remind them of their compliance obligations, PEXA hosted two free webinars in March. A recording of the webinar will be made available in our Webinar Hub and access to compliance information is also available on Community. PEXA will shortly commence assessing the compliance of our Subscribers with the Model Participation Rules. 
To assist our members prepare for this, PEXA has included some compliance-related content in the Help Centre section of our Community here, and ran two webinars over the course of March, with one of the recordings posted here for viewing by anyone who may have missed them. 
More information on the Subscriber Review Process can be found on the PEXA website.

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