The federal government has released further Future of Financial Advice measures relating to conflicted remuneration and soft-dollar benefits.

The bill bans product commissions to financial advisers and their dealer groups, as well as volume rebates from platform operators to dealer groups, Treasury said in an explanatory memorandum to the Corporations Amendment Bill 2011.

It also bans volume-based shelf-space fees from fund managers to platform operators, and the charging of asset-based fees to retail clients on geared funds.

Licensees will also not be allowed to accept remuneration that has the potential to influence the financial product advice or recommendations provided to retail clients, with the exception of certain insurance or execution-only services.

Licensees must not accept soft-dollar benefits over $300 that have the potential to influence the financial product advice or recommendations provided to retail clients, with the exception of certain insurance, execution-only, certain education or training purposes, and certain information technology benefits.

Product issuers must not provide monetary or non-monetary benefits to licensees or their representatives, regardless of whether it might influence the financial product advice provided to retail clients, with the exception of certain insurance, execution-only, certain education or training purposes, and certain information technology benefits.