NZ to track Australia on commissions

Dale-Jones says that any regulation around adviser commissions must be framed around a "trans-Tasman context".

"We wouldn't want there to be hugely different [commission rules] than in Australia... We may not end up precisely like Australia but I'd be surprised if there were not parallels," he said. "However, there needs to be a discussion around that."

Yesterday, the Australian Ripoll parliamentary inquiry recommended industry and government consult on the best way to "cease payments from product manufacturers to financial advisers".

Ripoll told Australian press after the report was tabled that it was "a big, big change that we have recommended" with obvious ramifications for commission payments.