Summary
Amends the
Corporations Act 2001
to: remove the exemption from the conflicted remuneration ban on benefits paid in relation to certain life risk insurance products; enable regulations to prescribe other circumstances where a benefit paid in relation to life insurance is conflicted remuneration even where no advice is provided; enable the Australian Securities and Investments Commission to permit benefits in relation to life risk insurance products when certain requirements are met; and ban volume based payments in life risk products.