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12 Sep 2019 Bills before the Senate

The Treasury Laws Amendment (Ending Grandfathered Conflicted Remuneration) Bill 2019 

The Treasury Laws Amendment (Ending Grandfathered Conflicted Remuneration) Bill 2019 implements a recommendation of the Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry by amending the Corporations Act 2001 to: 

  • Remove grandfathering arrangements for conflicted remuneration and other banned remuneration from 1 January 2021; and
  • Enable regulations to provide for a scheme under which amounts that would otherwise have been paid as conflicted remuneration are rebated to affected customers.
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