Quality of Advice interim paper 'won't include commissions'

Quality of Advice interim paper ‘won’t include commissions’

25 August 2022

The National Insurance Brokers Association (NIBA) says a paper expected this month from the Quality of Advice Review won’t address the issue of conflicted remuneration and commissions.

NIBA CEO Phil Kewin, who last week visited Canberra to build relations with the Labor Government, says he’s been told the upcoming paper will focus on affordability and accessibility of advice and simplifying the regulatory framework.

Further consultation on conflicted remuneration and commissions will then take place. The review is expected to file a final report by December 16.

In Canberra Mr Kewin and NIBA Vice President Gary Okely met with Assistant Treasurer and Financial Services Minister Stephen Jones, who will speak at the NIBA Summit on October 12.

“It was a meaningful and productive meeting, and I look forward to introducing the Minister to NIBA members at the upcoming NIBA Summit,” Mr Kewin said.

“It’s so important to build good trusting relationships.”