Financial advisers could still pocket commissions from funds, insurers in Goldsmith's review

Tue, 24 Nov 2015

By Paul McBeth Nov. 25 (BusinessDesk) - The government may impose tougher ethical obligations on financial advisers to help confused consumers, but doesn't favour dropping commissions paid by providers such as fund managers or insurers to sell their products. Commerce and Consumer Affairs Minister Paul Goldsmith today released an options paper on ways to improve the seven-year-old law for consumers, saying there were anecdotes that the current regime was "overly complex and that this has reduced access to financial advice." In a statem...

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