{"id":9456,"date":"2025-07-14T10:39:46","date_gmt":"2025-07-14T00:39:46","guid":{"rendered":"https:\/\/www.waterexchange.com.au\/auction\/?p=9456"},"modified":"2025-09-16T11:26:41","modified_gmt":"2025-09-16T01:26:41","slug":"vic-water-register-news-new-broker-code","status":"publish","type":"post","link":"https:\/\/www.waterexchange.com.au\/auction\/vic-water-register-news-new-broker-code\/","title":{"rendered":"Vic Water Register News: New Broker Code"},"content":{"rendered":"","protected":false},"excerpt":{"rendered":"","protected":false},"author":1479,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-9456","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"acf":{"title":"Vic Water Register News: New Broker Code","link":"https:\/\/waterregister.vic.gov.au\/about\/news\/501-new-broker-code","description":"From 1 July 2025 there are additional Australian Government obligations on water brokers and exchanges operating in the Murray-Darling Basin, under a new Water Markets Intermediaries Code.\r\nAs a water market participant you are encouraged to familiarise yourself with the Code and the new safeguards that have been put in place to ensure your broker acts in your best interests.\r\nThe new Code, and complementary trust accounting obligations, place further responsibilities on water market intermediaries. This is in addition to the rules they must follow under Australian Consumer Law.\r\nThe Code is designed to give greater protection to users of water brokers and exchanges, aligning standards with those that exist in other similar markets. Some obligations under the Code commence on 1 July 2025, others on 1 October 2025.\r\nThe Code requires that all market intermediaries, including brokers, must:\r\n\u2022\tact in good faith\r\n\u2022\tplace the client\u2019s interests before their own\r\n\u2022\tact in accordance with lawful client instructions\r\n\u2022\tdisclose conflicts of interest\r\n\u2022\tdeal with complaints\r\n\u2022\tuse a trust account when holding money, and maintain broking water accounts when holding water rights, on behalf of another person during provision of intermediary services\r\n\u2022\thold professional indemnity insurance.\r\nThe Australian Competition and Consumer Commission (ACCC) enforce the Code, trust accounting requirements and Australian Consumer Law. There can be significant financial penalties for misconduct by water brokers and exchanges.\r\nWater brokers who use the Victorian online Broker Portal for submitting trades are also subject to Victorian requirements for Portal access and are audited for compliance against these.\r\n","publishdate":""},"_links":{"self":[{"href":"https:\/\/www.waterexchange.com.au\/auction\/wp-json\/wp\/v2\/posts\/9456","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.waterexchange.com.au\/auction\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.waterexchange.com.au\/auction\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.waterexchange.com.au\/auction\/wp-json\/wp\/v2\/users\/1479"}],"replies":[{"embeddable":true,"href":"https:\/\/www.waterexchange.com.au\/auction\/wp-json\/wp\/v2\/comments?post=9456"}],"version-history":[{"count":1,"href":"https:\/\/www.waterexchange.com.au\/auction\/wp-json\/wp\/v2\/posts\/9456\/revisions"}],"predecessor-version":[{"id":9457,"href":"https:\/\/www.waterexchange.com.au\/auction\/wp-json\/wp\/v2\/posts\/9456\/revisions\/9457"}],"wp:attachment":[{"href":"https:\/\/www.waterexchange.com.au\/auction\/wp-json\/wp\/v2\/media?parent=9456"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.waterexchange.com.au\/auction\/wp-json\/wp\/v2\/categories?post=9456"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.waterexchange.com.au\/auction\/wp-json\/wp\/v2\/tags?post=9456"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}