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AIST rejects the Government’s proposal to allow the payment of grandfathered commissions and other conflicted remuneration under a scheme that does not put members’ interests front and centre.
AIST seeks a complete ban on the payment of conflicted remuneration through immediate rebates to clients, whether that conflicted remuneration can be attributed to a particular client or paid to a client group. This is the only way to ensure that members’ best interests are met and that advisers are not tempted to game the system through an ill-defined and difficult to monitor rebate system.
26 April 2019