This Bill removes the exemption on benefits paid in relation to life insurance products from the ban on conflicted remuneration. AIST supports the removal of this exemption, however would also support an eventual end to commissions on life insurance products. AIST does not support the ability for ASIC to exempt certain payments by way of legislative instrument, and recommends that this be phased out by way of a sunset clause. We also recommend that clawback payments be returned to investors, and that disclosure rules be toughened to ensure that commissions are better disclosed.