Speaking in the House of Representatives, Ms O'Dwyer introduced the bill to amend The Corporations Act 2001 which she said "will better align the interests of financial advisers who sell life insurance products to their consumers".
The bill is now scheduled for further debate during the next sitting of parliament.
ifa reported on Wednesday that the controversial legislation was to be introduced this week.
More to come
SUBSCRIBE TO THE IFA DAILY BULLETIN
24 Jun 2016AMP board names new chairBy Staff Reporter
24 Jun 2016Cbus’ new advice model to satisfy best interests dutyBy Staff Reporter
24 Jun 2016Banks must tackle risk culture, BTS saysBy Staff Reporter
24 Jun 2016CBA reappoints Morningstar as AFSL research providerBy Staff Reporter
24 Jun 2016ASIC takes legal action against MacquarieBy Staff Reporter
24 Jun 2016IOOF hires new alternatives portfolio managerBy Staff Reporter
- view all