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AIST supports this exposure draft legislation which will see the end of grandfathered conflicted remuneration on financial products. We believe that the 2021 implementation date is too late, and this measure must be implemented as soon as possible. In the meantime, details of commissions must immediately be added to fee disclosure statements, and in the absence of compelling reasons for their continued exemption, risk insurance products must be included in this measure.
22 March 2019