Australia has now followed the U.K.'s lead in banning commissions on financial product sales.

They have also gone a step further by requiring (wait for it...) client confirmation before automatically renewing their advice arrangements.

"Starting July 1, 2012, all Australian financial advisers will be subject to the following:

• Commissions on the sale of new financial products will be forbidden.

• A fiduciary standard will apply to all advisers.

• Volume-based discounts will be banned.

• Clients will be asked to renew their advice arrangements annually."

This sounds shockingly like "pay as you go, fee-only financial planning" but I won't sue them. 
 

Investment News:  Regulatory future for U.S. advisers now on display -- in OZ

BBC News:  Financial Advisers' commission to be banned from 2012 

Take a look at the top government expenditures:

To see where the other 23% goes:  Your Federal Tax Receipt

Top baby names for 2010 as reported by the Social Security Administration: