The Corporations Amendment (Life Insurance Remuneration Arrangements) Act 2017 No. 6 (Cth) which amends the Corporations Act 2001 No. 50 (Cth) was assented to on 22 February 2017.

The effect is that on 1 January 2018, the current conflicted remuneration regime for retail life risk insurance will change. Please note this will not affect general insurance.

Those involved in life risk insurance sales need to re-examine their remuneration arrangements.

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