2.6 — General insurance and consumer credit insurance commissions

The review referred to in Recommendation 2.3 should also consider whether each remaining exemption to the ban on conflicted remuneration remains justified, including:

  • the exemptions for general insurance products and consumer credit insurance products; and
  • the exemptions for nonmonetary benefits set out in section 963C of the Corporations Act.

Government Response

The Government agrees to review the remaining exemptions to the ban on conflicted remuneration in the course of its review in three years’ time on the effectiveness of measures to improve the quality of advice.