Category | Remuneration

Shelf Space Fees May Continue Under LIF

Life insurers may still be able to pay shelf space fees to advice licensees after 1 January 2018 as long as the payments were not considered conflicted remuneration, ASIC has told a Parliamentary Inquiry. (more…)

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2 · August 15, 2017 in Compliance & Regulation, Remuneration  

The Question of Life Product Shelf Space Fees

Our latest poll is based on ASIC’s assessment that life insurers may still be in a position to pay licensee shelf space fees following the implementation of the Life Insurance Framework reforms. (more…)

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1 · August 15, 2017 in Compliance & Regulation, Polls, Remuneration  

ASIC’s Life SoA Downplays Advice

Further calls have been made to move commissions off the front page of ASIC’s example Life Insurance Statement of Advice (SoA) with the FPA stating the document should highlight the advice process first. (more…)

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3 · August 9, 2017 in Compliance & Regulation, Remuneration  

Leave SoA Commission Details Alone – AFA

The AFA has recommended that life insurance commissions should not be displayed at the start of Statements of Advice (SoA) stating that to do so would present them out of context to the advice being provided. (more…)

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20 · August 1, 2017 in Compliance & Regulation, Products, Remuneration  

Advisers Support Notifying ASIC on Churners

Advisers clearly support the prospect that insurers should be required to notify ASIC of known churning activity. (more…)

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2 · July 18, 2017 in Compliance & Regulation, Polls, Remuneration  

Latest Poll – Should Insurers Notify ASIC on Churning?

Our latest poll seeks your input on whether your peers should be held to a more rigorous process of accountability in relation to churning practices. (more…)

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2 · July 11, 2017 in Compliance & Regulation, Polls, Remuneration  

ASIC Claims Some Insurers Were Aware of Churning

ASIC has admitted that some life insurance companies are aware of which advisers have been churning despite the latter not taking any action on the matter. (more…)

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9 · July 4, 2017 in Claims, Remuneration  

Super Bodies Call for Widespread Commission Bans

All commissions on any form of life insurance should be removed completely as their continued existence does not remove conflicts of interest or protect the best interests of consumer, two industry super fund bodies have claimed. (more…)

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12 · July 4, 2017 in Associations, Compliance & Regulation, Remuneration, Superannuation  

Risk Advice Business Viability Post LIF

We’re continuing with our latest poll for another week due to the significant level of debate in which our adviser audience is engaging. (more…)

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4 · July 4, 2017 in Compliance & Regulation, Polls, Remuneration  

Jury Still Out on Future for Risk Advice Specialists

Adviser opinion is divided on the future outlook for risk-focussed or risk-specialist advice practices under the Life Insurance Framework remuneration reforms. (more…)

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29 · June 27, 2017 in Compliance & Regulation, Polls, Remuneration