VICTORIA’s in-principle support for establishing a mandatory code of conduct for water brokers has been welcomed by Member for Mildura, Ali Cupper.
Ms Cupper said water brokers play a significant role in the water market, so their actions need to be as transparent as possible.
“The current system leaves a lot to be desired and enshrining a code of conduct would hold brokers to account for all the elements of water exchanges they organise,” she said.
“Their clients deserve to know what interests a broker has in a specific water trade, including what fees or commissions they will be receiving, and whether they hold professional indemnity insurance.”
Ms Cupper said having brokers abide by a code would complement the legal obligations water brokers must abide by and said it would give more power and confidence to water traders.
“Having the entirety of the transaction terms out on the table will make the water trading system fairer and ensure more trust is involved in the process,” Ms Cupper said.
“A code of conduct will help steer brokers away from the temptations of misconduct, which is ultimately better for their clients, better for their brand, and better for our rivers.”

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