June 2020

Enforceable Code Provisions
Recommendation 1.15
Enforceable code provisions for industry codes of conduct

Mortgage Brokers – Reference Checking
Recommendation 1.6
Reference checking and information sharing for mortgage brokers

Point of Sale Exemption
Recommendation 1.7
Removal of Point of Sale Exemption

Financial Advice Annual Renewals
Recommendation 2.1
Annual Renewal and Payment for Financial Advice

Financial Adviser Independence
Recommendation 2.2
Disclosure of lack of independence of financial advisers

Financial Advisor Reference Checking
Recommendation 2.7
Reference checking and information sharing for financial advisers

Compliance Concern Reporting
Recommendation 2.8
Licensee obligations to report compliance concerns

Financial Adviser Misconduct
Recommendation 2.9
Licensee obligations where misconduct by financial advisers

Trustees of RSE
Recommendation 3.1
No other role or office for trustees of Registrable Superannuation Entities (RSE)

Advice Fees – My Super
Recommendation 3.2
No deducting advice fees from My Super accounts

Advice Fees – Choice Super
Recommendation 3.3
Limitations on deducting advice fees from choice superannuation accounts

Hawking Superannuation
Recommendation 3.4
No hawking of superannuation products

Superannuation – Regulators’ Roles
Recommendation 3.8
Adjustment of APRA’s and ASIC’s roles in superannuation

Hawking Insurance
Recommendation 4.1
No hawking of insurance products

Insurance – Restricting Use of Terms
Recommendation 4.2
Restricting use of the term ‘insurer’ and ‘insurance’

Insurance – Deferred Sales Model
Recommendation 4.3
Deferred sales model for add-on insurance

Vehicle Dealer Commission
Recommendation 4.4
Cap on commissions paid to vehicle dealers for sale of addon insurance products

Insurance – Misrepresentation
Recommendation 4.5
Duty to take reasonable care not to make a misrepresentation to an insurer

Life Insurance Contracts Avoidance
Recommendation 4.6
Limiting circumstances where insurers can avoid life insurance contracts

Claims Handling Exemption
Recommendation 4.8
Removal of claims handling exemption

ASIC Board Meetings
Recommendation 6.11
Improving ASIC’s Board meeting procedures

ASIC and APRA – Oversight Authority
Recommendation 6.14
A new oversight authority for APRA and ASIC