Conveyancers back proposal to regulate digital platform
A PROPOSAL by the NSW Independent Pricing and Regulatory Tribunal (IPART) to rein in fees charged by digital property platform PEXA has been welcomed by the state’s conveyancers. Last week, IPART said it wanted to keep regulating Electronic Lodgment Network Operators (ELNO) service fees in a move that would result in a fall in transfer fees, including single and multiple title transfers, with and without financial settlement. The reduction will likely apply to charges to legal practitioners, while financial institutions will not see their fees change. PEXA, which dominates the $300 m