Australia to ban grandfathered commissions

Pedro Gonçalves
clock • 2 min read

The Australian government has announced new rules requiring advisers to pass to their clients the benefits of any previously grandfathered conflicted remuneration remaining in contracts after 1 January 2021, a move that hits young advisers the most. Consultation is now open for the Federal Government's response to Commissioner Kenneth Hayne's recommendation that grandfathered conflicted remuneration should be eliminated, following the recommendation from the Hayne commission. Treasurer ...

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