ISI says it will now consult on its new anti-churning policy

Its new Business Replacement Rules and Reinstatement policy came into effect on July 1 and there has been considerable comment since Good Returns ran a story on the changes last week.

ISI chief executive Vance Arkinstall says the new standard replaces one that was introduced more than a decade ago.

He  acknowledges that the new Standard has raised some concerns, most of it focused on the new consumer information brochure.

"As a result ISI will engage in consultation with adviser group representatives to identify immediate improvements that can be made."