ASIC has in the past issued sample standard forms for different products. In another step along the road towards standardisation, on the 31st May, ASIC released a consultation paper on a new sample Statement of Advice (SOA) for life insurance products. The sample SOA is a clear and comprehensive document and all participants in both the financial services industry and the credit industry would do well to be aware of the standard expected and the modern form of presentations used. One aspect that caught our eye was the forthright manner in which commission disclosures were made in the document and their positioning at the start of the document. Another interesting development is that the government is clarifying the level of “clawbacks” (of commission) permitted where life insurance policies are cancelled within the first few years after the policy is taken out.