Measures to improve consumer protections

  • Recommendation 1.2 – Mortgage broker best interests duty
  • Recommendation 1.3 – Mortgage broker remuneration (consistent with the Government’s response)
  • Recommendation 2.4 – Ending grandfathered commissions for financial advisers (legislation introduced on 1 August 2019)
  • Recommendation 4.2 – Removing the exemptions for funeral expenses policies
  • Recommendation 4.7 – Application of unfair contract terms provisions to insurance contracts
  • Recommendation 4.8 – Removal of claims handling exemption for insurance