FSC extends consultation deadline for life code

FSC chief executive Sally Loane said several organisations had requested additional time to make their submissions to the new code.

“We want interested parties to know that the period for consultation has been extended until 31 January – there is still time to get your views heard,” Ms Loane said.

The FSC released the code for consultation in November 2018, including public meetings in Sydney, Melbourne and Brisbane.

Among the changes proposed to the original code include the banning of pressure selling of products and coercive retention tactics, as well as a raft of reforms to underwriting, claims and mental health.

More than 20 submissions from the public and key medical, consumer and welfare groups have been either received or are in the process of being finalised, the FSC said.

Adrian Flores

Adrian Flores is a deputy editor at Momentum Media, focusing mainly on banking, wealth management and financial services. He has also written for Public Accountant, Accountants Daily and The CEO Magazine.

==

==

You can contact him on [email protected].