今日热门事件notes the announcement of a life insurance industry reform package by the Financial Services Council, the Association of Financial Advisers and the Financial Planning Association, following a sector-commissioned review chaired by John Trowbridge.
The life insurance reforms presented to Government follow ASIC鈥檚 review of life insurance advice (refer: 14-263MR). The review, along with 今日热门事件follow-up investigations and ongoing enforcement and regulatory action, found that industry standards need to improve and that high up-front commissions adversely impact on the quality of advice.
今日热门事件will consider the reform package in the light of the findings from its report, and is committed to working with Government, industry participants and other stakeholders to help lift standards and ensure better outcomes for consumers.